Ingredion Incorporated (NYSE:INGR) Shares Sold by AMG National Trust Bank

AMG National Trust Bank decreased its stake in Ingredion Incorporated (NYSE:INGR) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,856 shares of the company’s stock after selling 425 shares during the period. AMG National Trust Bank’s holdings in Ingredion were worth $1,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Ingredion by 6.3% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 2,178 shares of the company’s stock valued at $255,000 after purchasing an additional 130 shares during the period. STAR Financial Bank raised its position in Ingredion by 3.8% during the fourth quarter. STAR Financial Bank now owns 3,581 shares of the company’s stock worth $389,000 after acquiring an additional 132 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Ingredion by 0.9% during the first quarter. Assenagon Asset Management S.A. now owns 17,806 shares of the company’s stock worth $2,081,000 after acquiring an additional 154 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Ingredion by 59.8% during the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after acquiring an additional 159 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Up 0.6 %

Shares of NYSE INGR traded up $0.78 during midday trading on Friday, reaching $132.82. 255,586 shares of the stock were exchanged, compared to its average volume of 385,929. The company has a market capitalization of $8.72 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.16 and a beta of 0.72. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $133.33. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $120.60 and a 200-day moving average price of $117.23.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $2.32 earnings per share. Ingredion’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts expect that Ingredion Incorporated will post 9.7 earnings per share for the current fiscal year.

Insider Activity at Ingredion

In related news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,695 shares of company stock worth $3,349,275. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INGR shares. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets lifted their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, Oppenheimer lifted their price target on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.33.

About Ingredion

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.