MetLife Investment Management LLC Lowers Holdings in Ingredion Incorporated (NYSE:INGR)

MetLife Investment Management LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 33,636 shares of the company’s stock after selling 930 shares during the period. MetLife Investment Management LLC’s holdings in Ingredion were worth $4,623,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion in the 2nd quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Ingredion in the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Up 0.2 %

NYSE:INGR opened at $147.34 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. Ingredion Incorporated has a 1 year low of $101.00 and a 1 year high of $155.44. The stock has a market cap of $9.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.26 and a beta of 0.73. The stock has a 50-day simple moving average of $139.58 and a 200-day simple moving average of $128.64.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 earnings per share. As a group, analysts anticipate that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INGR. Oppenheimer upped their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays lifted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 6,122 shares of the business’s 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 completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,328 shares of company stock worth $1,649,741 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

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.