Wellington Management Group LLP Buys 27,948 Shares of Ingredion Incorporated (NYSE:INGR)

Wellington Management Group LLP raised its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 33.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,741 shares of the company's stock after purchasing an additional 27,948 shares during the quarter. Wellington Management Group LLP owned 0.17% of Ingredion worth $15,219,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of INGR. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion during the 2nd quarter valued at $33,000. Family Firm Inc. bought a new position in shares of Ingredion during the second quarter valued at about $36,000. International Assets Investment Management LLC bought a new stake in Ingredion in the 2nd quarter worth about $36,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion during the 3rd quarter worth approximately $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Ingredion in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Price Performance

NYSE INGR traded down $0.48 on Friday, hitting $144.31. The stock had a trading volume of 294,202 shares, compared to its average volume of 391,159. The firm has a 50-day moving average of $141.59 and a 200-day moving average of $130.62. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 14.08, 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share 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 for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $2.33 EPS. The business's quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Ingredion Incorporated will post 10.59 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on INGR shares. BMO Capital Markets boosted their price objective on Ingredion from $128.00 to $147.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 6th. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Stephens raised shares of Ingredion to a "hold" rating in a research report on Monday, December 2nd. Barclays lifted their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, UBS Group increased 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and an average price target of $155.17.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares of the company's stock, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,198 shares of company stock worth $9,702,461 in the last 90 days. 1.80% of the stock is owned by company insiders.

About Ingredion

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.