MetLife Investment Management LLC Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

MetLife Investment Management LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,636 shares of the company’s stock after selling 930 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Ingredion worth $4,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion in the second quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion in the second quarter worth approximately $33,000. Family Firm Inc. bought a new stake in Ingredion during the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Ingredion during the second quarter valued at approximately $36,000. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,328 shares of company stock valued at $1,649,741. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INGR has been the topic of several recent research reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer raised their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Up 0.2 %

NYSE:INGR opened at $147.34 on Monday. The company’s 50-day simple moving average is $139.58 and its 200-day simple moving average is $128.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a fifty-two week low of $101.00 and a fifty-two week high of $155.44. The stock has a market capitalization of $9.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.26 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $2.33 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.