Thrivent Financial for Lutherans Cuts Stock Position in Ingredion Incorporated (NYSE:INGR)

Thrivent Financial for Lutherans lessened its holdings in Ingredion Incorporated (NYSE:INGR) by 3.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,405 shares of the company’s stock after selling 577 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingredion were worth $2,117,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INGR. Price T Rowe Associates Inc. MD grew its position in shares of Ingredion by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,461 shares of the company’s stock valued at $4,495,000 after purchasing an additional 1,904 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Ingredion by 28.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 18,051 shares of the company’s stock valued at $2,109,000 after purchasing an additional 4,027 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Tidal Investments LLC increased its stake in Ingredion by 35.2% during the first quarter. Tidal Investments LLC now owns 19,842 shares of the company’s stock worth $2,319,000 after acquiring an additional 5,168 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Ingredion during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This represents a 30.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,878 shares of company stock worth $4,674,598 over the last three months. 1.80% of the stock is owned by corporate insiders.

Ingredion Trading Down 1.2 %

INGR opened at $147.03 on Thursday. The stock’s fifty day moving average is $139.11 and its two-hundred day moving average is $128.18. The company has a market capitalization of $9.58 billion, a P/E ratio of 14.34, a PEG ratio of 1.27 and a beta of 0.73. Ingredion Incorporated has a 52 week low of $100.90 and a 52 week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. Analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Analysts Set New Price Targets

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

Ingredion Company 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.