BNP Paribas Financial Markets Boosts Position in Ingredion Incorporated (NYSE:INGR)

BNP Paribas Financial Markets boosted its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 33.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,237 shares of the company's stock after buying an additional 12,270 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.08% of Ingredion worth $6,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion during the 2nd quarter valued at about $33,000. Family Firm Inc. purchased a new position in shares of Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ingredion in the second quarter worth approximately $36,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on INGR. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price objective on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research report on Wednesday, November 6th. Barclays boosted 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. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $155.17.

Insider Activity at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,197 shares of company stock worth $9,702,315 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Ingredion Trading Up 0.3 %

Shares of NYSE INGR traded up $0.48 during mid-day trading on Tuesday, hitting $148.59. The stock had a trading volume of 270,765 shares, compared to its average volume of 386,850. The business has a 50 day moving average price of $139.84 and a two-hundred day moving average price of $128.84. Ingredion Incorporated has a 1 year low of $104.52 and a 1 year 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. The firm has a market cap of $9.68 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.74.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The company's quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Company 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.