First Manhattan Co. Cuts Stake in Ingredion Incorporated (NYSE:INGR)

First Manhattan Co. reduced its position in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,378 shares of the company’s stock after selling 583 shares during the period. First Manhattan Co. owned 0.63% of Ingredion worth $53,570,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. National Pension Service increased its position in Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after buying an additional 466 shares during the period. Assetmark Inc. increased its position in Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC increased its position in Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock valued at $149,000 after buying an additional 108 shares during the period. Global X Management Co. LLC increased its position in Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock valued at $160,000 after buying an additional 306 shares during the period. Finally, WFG Advisors LP increased its position in Ingredion by 0.4% in the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock valued at $165,000 after buying an additional 5 shares during the period. 84.48% of the stock is owned by institutional investors.

Ingredion Incorporated (NYSE:INGR) opened at 121.74 on Friday. The firm has a 50 day moving average price of $121.02 and a 200-day moving average price of $119.88. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 18.31 and a beta of 0.60. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $140.00.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. On average, equities analysts forecast that Ingredion Incorporated will post $7.64 EPS for the current year.

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Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price target on shares of Ingredion in a research note on Tuesday, May 16th. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Jefferies Group LLC restated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $140.50.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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