Readystate Asset Management LP Purchases Shares of 8,154 Ingredion Incorporated (NYSE:INGR)

Readystate Asset Management LP purchased a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,154 shares of the company's stock, valued at approximately $1,121,000.

A number of other hedge funds have also recently added to or reduced their stakes in INGR. IHT Wealth Management LLC purchased a new position in shares of Ingredion in the 3rd quarter valued at approximately $221,000. Benjamin Edwards Inc. purchased a new position in shares of Ingredion in the 3rd quarter valued at approximately $1,347,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Ingredion by 1,342.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,124 shares of the company's stock valued at $567,000 after purchasing an additional 3,838 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Ingredion in the 3rd quarter valued at approximately $692,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Ingredion in the 3rd quarter valued at approximately $673,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

In other news, CEO James P. Zallie sold 371 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,197 shares of company stock worth $9,702,315. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. 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 research note on Wednesday, November 6th. Barclays lifted 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 lifted their price objective on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Stephens raised Ingredion to a "hold" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $155.17.

Ingredion Trading Down 0.5 %

Shares of NYSE:INGR traded down $0.72 during midday trading on Thursday, reaching $148.67. The company's stock had a trading volume of 165,644 shares, compared to its average volume of 386,925. The business has a 50 day moving average price of $140.39 and a 200 day moving average price of $129.19. Ingredion Incorporated has a 1 year low of $104.68 and a 1 year high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share 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 company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The company's revenue was down 8.0% compared to the same quarter last year. Research analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current year.

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.