Peapack Gladstone Financial Corp Sells 618 Shares of Ingredion Incorporated (NYSE:INGR)

Peapack Gladstone Financial Corp lessened its stake in shares of Ingredion Incorporated (NYSE:INGR) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,425 shares of the company’s stock after selling 618 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Ingredion were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of INGR. Pacer Advisors Inc. lifted its position in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after buying an additional 846,967 shares during the period. Acadian Asset Management LLC lifted its position in shares of Ingredion by 177.8% during the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after buying an additional 253,949 shares during the period. International Assets Investment Management LLC lifted its position in shares of Ingredion by 55,219.9% during the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock worth $240,240,000 after buying an additional 174,495 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after buying an additional 125,543 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Ingredion during the 3rd quarter worth approximately $17,094,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity

In other news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,198 shares of company stock valued at $9,702,461. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Down 0.3 %

NYSE INGR opened at $144.31 on Monday. The stock has a fifty day moving average of $141.59 and a 200-day moving average of $130.62. The stock has a market capitalization of $9.40 billion, a P/E ratio of 14.08, a price-to-earnings-growth 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. 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 (NYSE:INGR) last released its 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 during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current year.

Wall Street Analyst Weigh In

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

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.