Mutual of America Capital Management LLC Sells 923 Shares of Ingredion Inc (INGR)

Mutual of America Capital Management LLC decreased its stake in shares of Ingredion Inc (NYSE:INGR) by 1.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 70,271 shares of the company’s stock after selling 923 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ingredion were worth $7,376,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Midas Management Corp acquired a new stake in shares of Ingredion during the third quarter worth $2,099,000. Macquarie Group Ltd. boosted its holdings in shares of Ingredion by 11.1% during the second quarter. Macquarie Group Ltd. now owns 19,960 shares of the company’s stock worth $2,210,000 after purchasing an additional 2,000 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Ingredion during the third quarter worth $1,401,000. Sapience Investments LLC acquired a new stake in shares of Ingredion during the second quarter worth $1,968,000. Finally, Andra AP fonden boosted its holdings in shares of Ingredion by 9.9% during the third quarter. Andra AP fonden now owns 102,800 shares of the company’s stock worth $10,790,000 after purchasing an additional 9,300 shares during the last quarter. 85.28% of the stock is owned by institutional investors.

Shares of Ingredion stock opened at $102.01 on Thursday. Ingredion Inc has a twelve month low of $89.48 and a twelve month high of $146.28. The firm has a market capitalization of $7.21 billion, a P/E ratio of 13.25, a PEG ratio of 1.34 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.53 and a current ratio of 2.50.

Ingredion (NYSE:INGR) last issued its earnings results on Thursday, November 1st. The company reported $1.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.70. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Ingredion Inc will post 6.92 EPS for the current year.

In other Ingredion news, VP Christine M. Castellano sold 37,267 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $105.30, for a total value of $3,924,215.10. Following the transaction, the vice president now directly owns 28,168 shares of the company’s stock, valued at $2,966,090.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara A. Klein sold 1,775 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $103.46, for a total value of $183,641.50. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

INGR has been the topic of several analyst reports. Jefferies Financial Group raised their price objective on Ingredion to $145.00 and gave the stock a “buy” rating in a report on Monday, November 19th. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Citigroup upgraded Ingredion from a “sell” rating to a “neutral” rating in a report on Thursday, November 1st. Finally, ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $124.50.

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Ingredion Profile

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

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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