Verition Fund Management LLC Boosts Holdings in Ingredion Incorporated (NYSE:INGR)

Verition Fund Management LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 92.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,194 shares of the company's stock after buying an additional 5,855 shares during the quarter. Verition Fund Management LLC's holdings in Ingredion were worth $1,676,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the second quarter worth approximately $33,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion in the 3rd quarter worth approximately $41,000. Family Firm Inc. bought a new stake in shares of Ingredion in the 2nd quarter valued at $36,000. International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the second quarter worth $36,000. Finally, Abich Financial Wealth Management LLC bought a new position in Ingredion during the second quarter worth $56,000. Institutional investors own 85.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on INGR. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research report on Wednesday, November 6th. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Stephens raised Ingredion to a "hold" rating in a research note on Monday, December 2nd. Oppenheimer raised 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. Finally, UBS Group lifted their price target on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $155.17.

Ingredion Stock Down 1.8 %

NYSE INGR traded down $2.62 during trading hours on Friday, hitting $145.23. The company's stock had a trading volume of 531,254 shares, compared to its average volume of 467,299. The company has a market capitalization of $9.46 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. 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 52 week low of $104.68 and a 52 week high of $155.44. The company's 50-day simple moving average is $140.76 and its two-hundred day simple moving average is $129.59.

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

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares of the company's stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 12,795 shares of the company's stock, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

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.