Ingredion Incorporated (NYSE:INGR) Shares Purchased by State Street Corp

State Street Corp increased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,436,601 shares of the company's stock after acquiring an additional 19,560 shares during the period. State Street Corp owned about 3.74% of Ingredion worth $334,862,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Ingredion Price Performance

Shares of NYSE:INGR traded up $1.08 on Tuesday, reaching $143.89. 508,242 shares of the company were exchanged, compared to its average volume of 390,900. 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 1-year low of $105.74 and a 1-year high of $155.44. The company has a 50-day moving average of $140.86 and a 200-day moving average of $129.84. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.25 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations 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 period last year, the company posted $2.33 earnings per share. Equities analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the 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 in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,197 shares of company stock valued at $9,702,315. Insiders own 1.80% of the company's stock.

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.