Benjamin Edwards Inc. Acquires New Holdings in Ingredion Incorporated (NYSE:INGR)

Benjamin Edwards Inc. bought a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,805 shares of the company's stock, valued at approximately $1,347,000.

Several other large investors have also recently made changes to their positions in INGR. Point72 Asia Singapore Pte. Ltd. grew its holdings in Ingredion by 1,342.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,124 shares of the company's stock valued at $567,000 after purchasing an additional 3,838 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Ingredion in the 3rd quarter valued at $692,000. Erste Asset Management GmbH acquired a new position in Ingredion during the third quarter worth $673,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Ingredion during the third quarter valued at $17,094,000. Finally, Verition Fund Management LLC grew its position in shares of Ingredion by 92.4% in the third quarter. Verition Fund Management LLC now owns 12,194 shares of the company's stock valued at $1,676,000 after purchasing an additional 5,855 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INGR. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays boosted their price target on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Oppenheimer lifted their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Stephens raised shares of Ingredion to a "hold" rating in a research note on Monday. Finally, BMO Capital Markets raised their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.17.

Ingredion Trading Down 1.8 %

Shares of NYSE INGR traded down $2.62 during midday trading on Friday, reaching $145.23. 531,210 shares of the stock were exchanged, compared to its average volume of 389,241. The stock has a market capitalization of $9.46 billion, a P/E ratio of 14.20, a PEG ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The company has a 50 day simple moving average of $140.60 and a 200 day simple moving average of $129.32. Ingredion Incorporated has a twelve month low of $104.68 and a twelve month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) 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. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company's quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company'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 value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company's stock, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,197 shares of company stock valued at $9,702,315 over the last quarter. Company insiders own 1.80% of the company's stock.

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.