Erste Asset Management GmbH Acquires New Position in Ingredion Incorporated (NYSE:INGR)

Erste Asset Management GmbH bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the third quarter, HoldingsChannel.com reports. The firm bought 4,900 shares of the company’s stock, valued at approximately $673,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion in the second quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ingredion in the 2nd quarter valued at about $33,000. Family Firm Inc. acquired a new position in shares of Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ingredion during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Ingredion news, 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 transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,197 shares of company stock worth $9,702,315 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the subject of several analyst reports. BMO Capital Markets boosted their price target on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. 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. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. 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 boosted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Up 0.7 %

Ingredion stock opened at $149.13 on Wednesday. The company has a market capitalization of $9.72 billion, a P/E ratio of 14.55, a PEG 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. Ingredion Incorporated has a fifty-two week low of $104.52 and a fifty-two week high of $155.44. The stock has a 50-day simple moving average of $140.11 and a 200-day simple moving average of $129.05.

Ingredion (NYSE:INGR) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Equities research analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current year.

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.