New Century Investment Management Inc Lowers stake in Ingredion Inc (INGR)

Ingredion Inc (INGR) : New Century Investment Management Inc reduced its stake in Ingredion Inc by 14.4% during the most recent quarter end. The investment management company now holds a total of 21,400 shares of Ingredion Inc which is valued at $2,841,492 after selling 3,600 shares in Ingredion Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Ingredion Inc makes up approximately 1.46% of New Century Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Meritage Portfolio Management reduced its stake in INGR by selling 1,070 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 71,464 shares of INGR which is valued at $9,488,990. Ingredion Inc makes up approx 1.03% of Meritage Portfolio Management’s portfolio.Albert D Mason Inc boosted its stake in INGR in the latest quarter, The investment management firm added 3,180 additional shares and now holds a total of 30,021 shares of Ingredion Inc which is valued at $3,979,284. Ingredion Inc makes up approx 2.43% of Albert D Mason Inc’s portfolio. Ruane Cunniff Goldfarb Inc added INGR to its portfolio by purchasing 1,800 company shares during the most recent quarter which is valued at $239,076.Check Capital Management Incca reduced its stake in INGR by selling 6,771 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 303,841 shares of INGR which is valued at $40,356,162. Ingredion Inc makes up approx 3.96% of Check Capital Management Incca’s portfolio.

Ingredion Inc closed down -0.2 points or -0.15% at $132.55 with 3,50,066 shares getting traded on Wednesday. Post opening the session at $133.19, the shares hit an intraday low of $132.37 and an intraday high of $133.32 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Ingredion Inc reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $1360.00 million for the quarter, compared to analysts expectations of $1340.99 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.

Ingredion Incorporated is a manufacturer and supplier of starch and sweetener ingredients to a range of industries including packaged food beverage brewing industrial pharmaceutical and personal care customers. The Company operates in four business segments: North America South America Asia Pacific and EMEA. North America segment consists of operations in the United States Canada and Mexico and produces a range of both sweeteners and starches. South America segment includes 11 plants that produce regular modified waxy and tapioca starches fructose and maltose syrups and syrup solids dextrins and maltodextrins dextrose specialty starches caramel color sorbitol and vegetable adhesives. Asia Pacific segment manufactures corn-based products in South Korea Australia and China and tapioca-based products in Thailand. EMEA segment includes five plants that produce modified and specialty starches glucose and dextrose in England Germany and Pakistan.

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