Retirement Systems of Alabama Cuts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Retirement Systems of Alabama lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,534 shares of the company’s stock after selling 1,990 shares during the period. Retirement Systems of Alabama owned approximately 0.24% of Ingredion worth $21,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of Ingredion by 75.7% in the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after purchasing an additional 83,708 shares during the last quarter. Tidal Investments LLC raised its position in Ingredion by 0.5% in the 3rd quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ingredion during the 3rd quarter valued at about $149,000. Fulcrum Equity Management boosted its holdings in shares of Ingredion by 18.2% during the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock valued at $554,000 after acquiring an additional 620 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Ingredion by 33.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,128 shares of the company’s stock valued at $292,000 after acquiring an additional 534 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INGR shares. Oppenheimer increased their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets upped their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Stephens raised Ingredion to a “hold” rating in a research report on Monday, December 2nd. Finally, Barclays upped their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,198 shares of company stock valued at $9,702,461 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $144.31 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a 50-day simple moving average of $141.59 and a two-hundred day simple moving average of $130.51. The firm has a market capitalization of $9.40 billion, a PE ratio of 14.08, a P/E/G ratio of 1.24 and a beta of 0.74. Ingredion Incorporated has a 52-week low of $105.78 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. Analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current year.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, manufactures 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.