The Manufacturers Life Insurance Company Has $15.47 Million Position in Ingredion Incorporated (NYSE:INGR)

The Manufacturers Life Insurance Company cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,545 shares of the company's stock after selling 9,275 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of Ingredion worth $15,467,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock valued at $308,009,000 after purchasing an additional 125,543 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company's stock valued at $202,332,000 after purchasing an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock valued at $211,529,000 after acquiring an additional 36,421 shares in the last quarter. Cooke & Bieler LP raised its holdings in Ingredion by 2.7% in the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company's stock valued at $116,765,000 after acquiring an additional 27,087 shares in the last quarter. Finally, Equity Investment Corp raised its holdings in Ingredion by 2.8% in the second quarter. Equity Investment Corp now owns 978,636 shares of the company's stock valued at $112,250,000 after acquiring an additional 26,526 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on INGR shares. UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. BMO Capital Markets increased their price objective 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. Oppenheimer increased 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. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Finally, Barclays increased their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.17.

Ingredion Trading Up 0.8 %

INGR stock traded up $1.19 during mid-day trading on Monday, reaching $148.53. 114,302 shares of the stock traded hands, compared to its average volume of 386,139. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52-week low of $104.52 and a 52-week high of $155.44. The company has a market cap of $9.68 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.26 and a beta of 0.73. The stock's fifty day moving average is $139.58 and its 200-day moving average is $128.64.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm's revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, sell-side analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction on 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 sale, 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 11,328 shares of company stock valued at $1,649,741 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.