BNP Paribas Financial Markets Has $6.77 Million Holdings in Ingredion Incorporated (NYSE:INGR)

BNP Paribas Financial Markets raised its position in Ingredion Incorporated (NYSE:INGR) by 33.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,237 shares of the company’s stock after purchasing an additional 12,270 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Ingredion worth $6,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion in the second quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion during the second quarter worth about $33,000. Family Firm Inc. bought a new stake in Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INGR. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased 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. UBS Group boosted their price objective on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Oppenheimer upped their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction 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 of the company’s stock, valued at $4,454,105.94. This represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.

Ingredion Stock Performance

Shares of INGR stock opened at $148.19 on Tuesday. Ingredion Incorporated has a 52 week low of $104.52 and a 52 week high of $155.44. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.26 and a beta of 0.73. The company has a 50-day simple moving average of $139.84 and a 200 day simple moving average of $128.84. 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 (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping 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 business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.33 earnings per share. On average, sell-side analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion 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.