IHT Wealth Management LLC Makes New $221,000 Investment in Ingredion Incorporated (NYSE:INGR)

IHT Wealth Management LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,618 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion during the 2nd quarter valued at approximately $33,000. Prospera Private Wealth LLC purchased a new stake in Ingredion in the third quarter valued at $41,000. Family Firm Inc. purchased a new stake in Ingredion in the 2nd quarter valued at about $36,000. International Assets Investment Management LLC purchased a new stake in Ingredion in the 2nd quarter valued at about $36,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Ingredion in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Ingredion

In related news, 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 transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,197 shares of company stock valued at $9,702,315. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on INGR. BMO Capital Markets boosted their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Up 0.8 %

Ingredion stock opened at $143.90 on Wednesday. The stock’s fifty day simple moving average is $141.02 and its 200-day simple moving average is $130.03. 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 twelve month low of $105.74 and a twelve month high of $155.44. The firm has a market capitalization of $9.38 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.25 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $2.33 EPS. Ingredion’s revenue was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal 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.