M&T Bank Corp Has $8.43 Million Holdings in Ingredion Incorporated (NYSE:INGR)

M&T Bank Corp lowered its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,319 shares of the company's stock after selling 3,950 shares during the period. M&T Bank Corp owned approximately 0.09% of Ingredion worth $8,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INGR. Dimensional Fund Advisors LP lifted its stake in Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after acquiring an additional 125,543 shares in the last quarter. State Street Corp increased its holdings in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company's stock valued at $334,862,000 after purchasing an additional 19,560 shares during the period. Pacer Advisors Inc. lifted its position 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 worth $202,332,000 after purchasing an additional 846,967 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingredion by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock worth $211,529,000 after purchasing an additional 36,421 shares during the period. Finally, Cooke & Bieler LP grew its position in Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company's stock valued at $116,765,000 after purchasing an additional 27,087 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Stock Up 0.3 %

Shares of NYSE INGR traded up $0.43 during mid-day trading on Thursday, reaching $144.86. 426,435 shares of the company traded hands, compared to its average volume of 391,564. The company's fifty day moving average is $141.40 and its two-hundred day moving average is $130.23. 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 fifty-two week low of $105.78 and a fifty-two week high of $155.44. The stock has a market cap of $9.44 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. On average, analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current year.

Insiders Place Their Bets

In other Ingredion news, 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 $6,967,399.22. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Larry Fernandes sold 6,122 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,197 shares of company stock valued at $9,702,315 in the last three months. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INGR. 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 research report on Friday, November 15th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. Finally, Stephens upgraded Ingredion to a "hold" rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.17.

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.