Point72 Hong Kong Ltd bought a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,033 shares of the company's stock, valued at approximately $692,000.
Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company's stock worth $308,009,000 after buying an additional 125,543 shares during the period. Pacer Advisors Inc. lifted its holdings in 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 buying an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA lifted 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 worth $211,529,000 after buying an additional 36,421 shares during the period. Cooke & Bieler LP lifted 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 worth $116,765,000 after buying an additional 27,087 shares during the period. Finally, Equity Investment Corp lifted its holdings in Ingredion by 2.8% in the second quarter. Equity Investment Corp now owns 978,636 shares of the company's stock worth $112,250,000 after buying an additional 26,526 shares during the period. 85.27% of the stock is owned by institutional investors.
Ingredion Stock Up 0.7 %
Shares of INGR traded up $1.02 on Tuesday, hitting $149.13. 489,611 shares of the stock traded hands, compared to its average volume of 553,342. The company has a market capitalization of $9.72 billion, a PE ratio of 14.55, a P/E/G ratio of 1.27 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. The business has a 50 day simple moving average of $140.11 and a 200 day simple moving average of $129.05. Ingredion Incorporated has a one year low of $104.52 and a one year 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 for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion during 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 firm's quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. As a group, equities analysts forecast that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.
Analysts Set New Price Targets
INGR has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. UBS Group lifted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets lifted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $155.17.
View Our Latest Report on INGR
Insiders Place Their Bets
In other Ingredion news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred 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. The trade was a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company's stock, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,197 shares of company stock valued at $9,702,315. Company insiders own 1.80% of the company's stock.
Ingredion Profile
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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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