Seeyond Sells 4,461 Shares of Ingredion Inc (NYSE:INGR)

Seeyond lowered its position in Ingredion Inc (NYSE:INGR) by 18.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,387 shares of the company’s stock after selling 4,461 shares during the period. Seeyond’s holdings in Ingredion were worth $1,682,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INGR. Advisory Services Network LLC lifted its position in shares of Ingredion by 65.4% in the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock worth $33,000 after buying an additional 161 shares during the last quarter. Harvest Group Wealth Management LLC bought a new position in shares of Ingredion in the 1st quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC acquired a new stake in Ingredion in the 2nd quarter worth approximately $50,000. Zions Bancorporation N.A. acquired a new stake in Ingredion in the 1st quarter worth approximately $63,000. Finally, Signaturefd LLC boosted its position in Ingredion by 49.5% during the first quarter. Signaturefd LLC now owns 1,159 shares of the company’s stock worth $110,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors own 87.85% of the company’s stock.

Several brokerages have commented on INGR. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 6th. Citigroup reduced their price objective on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Credit Suisse Group decreased their price objective on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $102.33.

Shares of Ingredion stock traded up $0.05 during trading on Wednesday, reaching $81.37. The company’s stock had a trading volume of 259,555 shares, compared to its average volume of 493,816. Ingredion Inc has a one year low of $73.00 and a one year high of $107.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 2.48. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 11.76 and a beta of 0.82. The business’s fifty day moving average price is $77.49 and its 200-day moving average price is $84.72.

Ingredion (NYSE:INGR) last announced its earnings results on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.06. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. Sell-side analysts anticipate that Ingredion Inc will post 6.68 EPS for the current year.

Ingredion Company 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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