Contravisory Investment Management Lowers stake in Ingredion Inc (INGR)

Ingredion Inc (INGR) : Contravisory Investment Management reduced its stake in Ingredion Inc by 7.08% during the most recent quarter end. The investment management company now holds a total of 98,365 shares of Ingredion Inc which is valued at $10,564,401 after selling 7,492 shares in Ingredion Inc , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Ingredion Inc makes up approximately 3.08% of Contravisory Investment Management’s portfolio.

Ingredion Inc opened for trading at $106.14 and hit $107.81 on the upside on Friday, eventually ending the session at $107.4, with a gain of 0.79% or 0.84 points. The heightened volatility saw the trading volume jump to 6,65,464 shares. Company has a market cap of $7,721 M.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in INGR in the latest quarter, The investment management firm added 472 additional shares and now holds a total of 7,183 shares of Ingredion Inc which is valued at $771,454. Ingredion Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Dorsey Wright Associates sold out all of its stake in INGR during the most recent quarter. The investment firm sold 6,137 shares of INGR which is valued $670,038.Creative Planning reduced its stake in INGR by selling 203 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 6,220 shares of INGR which is valued at $679,100. Ingredion Inc makes up approx 0.01% of Creative Planning’s portfolio. Proficio Capital Partners added INGR to its portfolio by purchasing 131 company shares during the most recent quarter which is valued at $14,303. Ingredion Inc makes up approx 0.01% of Proficio Capital Partners’s portfolio.Weaver C. Barksdale Associates reduced its stake in INGR by selling 27 shares or 11.25% in the most recent quarter. The Hedge Fund company now holds 213 shares of INGR which is valued at $23,255. Ingredion Inc makes up approx 0.02% of Weaver C. Barksdale Associates’s portfolio.

On the company’s financial health, Ingredion Inc reported $1.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $1.38. The company had revenue of $1405.00 million for the quarter, compared to analysts expectations of $1383.05 million. The company’s revenue was up 2.7% 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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