Russell Investments Group Ltd. Cuts Holdings in Ingredion Incorporated (NYSE:INGR)

Russell Investments Group Ltd. lowered its stake in Ingredion Incorporated (NYSE:INGR) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,617 shares of the company’s stock after selling 23,980 shares during the period. Russell Investments Group Ltd. owned approximately 0.51% of Ingredion worth $35,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGR. Global Retirement Partners LLC grew its position in Ingredion by 3,260.0% in the first quarter. Global Retirement Partners LLC now owns 336 shares of the company’s stock worth $37,000 after acquiring an additional 326 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Ingredion in the first quarter worth about $43,000. Tradition Wealth Management LLC purchased a new position in Ingredion in the first quarter worth about $49,000. Pinnacle Bancorp Inc. grew its position in Ingredion by 36.9% in the second quarter. Pinnacle Bancorp Inc. now owns 486 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in Ingredion in the first quarter worth about $57,000. Hedge funds and other institutional investors own 84.80% of the company’s stock.

Ingredion Stock Performance

Ingredion stock opened at $103.18 on Friday. The company has a 50 day moving average price of $96.83 and a 200-day moving average price of $102.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.97. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $113.46. The company has a market capitalization of $6.73 billion, a PE ratio of 11.05, a P/E/G ratio of 1.03 and a beta of 0.81.

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

Insider Activity at Ingredion

In other Ingredion news, SVP David Eric Seip acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average cost of $98.50 per share, with a total value of $295,500.00. Following the completion of the acquisition, the senior vice president now directly owns 18,035 shares in the company, valued at approximately $1,776,447.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INGR has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Ingredion in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Oppenheimer initiated coverage on shares of Ingredion in a research note on Thursday, September 28th. They issued an “outperform” rating and a $120.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, August 9th. Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a research note on Wednesday, November 8th. Finally, Barclays decreased their price objective on shares of 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.50.

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.