Wedge Capital Management L L P NC Sells 12,270 Shares of Ingredion Incorporated (NYSE:INGR)

Wedge Capital Management L L P NC cut its holdings in Ingredion Incorporated (NYSE:INGRGet Rating) by 14.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,844 shares of the company’s stock after selling 12,270 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ingredion were worth $6,598,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INGR. MCF Advisors LLC purchased a new position in shares of Ingredion in the 1st quarter worth $35,000. Johnson Financial Group Inc. grew its position in Ingredion by 6,450.0% in the fourth quarter. Johnson Financial Group Inc. now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 516 shares in the last quarter. Quent Capital LLC purchased a new position in Ingredion in the fourth quarter worth about $54,000. Worth Asset Management LLC bought a new stake in Ingredion during the first quarter worth approximately $57,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Ingredion during the fourth quarter valued at approximately $72,000. Institutional investors own 88.44% of the company’s stock.

Ingredion Price Performance

NYSE:INGR opened at $83.70 on Wednesday. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 12.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 0.96. The business has a 50 day simple moving average of $88.68 and a 200-day simple moving average of $88.57. Ingredion Incorporated has a 1 year low of $81.25 and a 1 year high of $101.89.

Ingredion (NYSE:INGRGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.18. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ingredion had a return on equity of 14.53% and a net margin of 6.13%. Ingredion’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Equities analysts forecast that Ingredion Incorporated will post 7.03 EPS for the current year.

About Ingredion

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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

Further Reading

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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