Geode Capital Management LLC grew its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,167,693 shares of the company's stock after buying an additional 19,064 shares during the period. Geode Capital Management LLC owned approximately 1.79% of Ingredion worth $160,516,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Barclays PLC increased its stake in shares of Ingredion by 31.9% in the 3rd quarter. Barclays PLC now owns 47,291 shares of the company's stock valued at $6,499,000 after buying an additional 11,432 shares during the period. Laraway Financial Advisors Inc bought a new stake in shares of Ingredion in the third quarter worth $230,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Ingredion by 195.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company's stock valued at $1,595,000 after buying an additional 7,676 shares during the last quarter. Zacks Investment Management bought a new stake in Ingredion in the third quarter valued at approximately $259,000. Finally, iSAM Funds UK Ltd lifted its stake in shares of Ingredion by 90.4% during the 3rd quarter. iSAM Funds UK Ltd now owns 9,297 shares of the company's stock worth $1,278,000 after buying an additional 4,413 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.
Ingredion Trading Down 0.9 %
Shares of Ingredion stock traded down $1.33 on Monday, reaching $142.98. 359,926 shares of the company's stock were exchanged, compared to its average volume of 391,034. The firm's 50-day moving average is $141.59 and its two-hundred day moving average is $130.62. The company has a market capitalization of $9.32 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.24 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. Ingredion Incorporated has a 52 week low of $105.78 and a 52 week 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 earnings per share (EPS) for the quarter, topping 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 earned $2.33 earnings per share. The company's quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts predict that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO James D. Gray sold 54,869 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares of the company's stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,198 shares of company stock worth $9,702,461. Insiders own 1.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Stephens upgraded Ingredion to a "hold" rating in a research report on Monday, December 2nd. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Barclays increased their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Finally, UBS Group raised their price objective on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Ingredion presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.17.
Check Out Our Latest Report on INGR
About Ingredion
(
Free Report)
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.
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![Institutional Ownership by Quarter for Ingredion (NYSE:INGR)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=INGR)
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