Burney Co. Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

Burney Co. cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,203 shares of the company’s stock after selling 1,415 shares during the quarter. Burney Co. owned about 0.11% of Ingredion worth $7,544,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cannell & Co. acquired a new position in shares of Ingredion during the second quarter worth about $225,000. BNP Paribas Arbitrage SNC lifted its position in shares of Ingredion by 49.1% during the second quarter. BNP Paribas Arbitrage SNC now owns 8,078 shares of the company’s stock worth $856,000 after purchasing an additional 2,661 shares in the last quarter. Equitable Trust Co. acquired a new stake in Ingredion during the 2nd quarter valued at $2,184,000. Swiss National Bank increased its stake in Ingredion by 1.5% during the 2nd quarter. Swiss National Bank now owns 143,600 shares of the company’s stock worth $15,214,000 after buying an additional 2,100 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Ingredion by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,911 shares of the company’s stock worth $3,381,000 after buying an additional 2,322 shares in the last quarter. 84.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In related news, SVP David Eric Seip bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average price of $98.50 per share, for a total transaction of $295,500.00. Following the transaction, the senior vice president now directly owns 18,035 shares of the company’s stock, valued at approximately $1,776,447.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INGR. Oppenheimer began coverage on Ingredion in a research note on Thursday, September 28th. They issued an “outperform” rating and a $120.00 price target on the stock. StockNews.com began coverage on shares of Ingredion in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research note on Wednesday, November 8th. UBS Group upped their target price on shares of Ingredion from $132.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays decreased their price target on Ingredion from $118.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.50.

Ingredion Stock Performance

Shares of NYSE INGR traded up $0.65 during mid-day trading on Tuesday, hitting $102.89. The company had a trading volume of 18,460 shares, compared to its average volume of 354,477. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $113.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.97 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $96.59 and its two-hundred day simple moving average is $103.01. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.01 and a beta of 0.81.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.95 by $0.38. Ingredion had a net margin of 7.61% and a return on equity of 18.48%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that Ingredion Incorporated will post 9.18 earnings per share for the current year.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, produces 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.