Ingredion Incorporated (NYSE:INGR) Stock Holdings Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 33.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,741 shares of the company’s stock after buying an additional 27,948 shares during the period. Wellington Management Group LLP’s holdings in Ingredion were worth $15,219,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the 2nd quarter valued at $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Ingredion during the third quarter worth $41,000. Family Firm Inc. purchased a new stake in shares of Ingredion during the second quarter valued at $36,000. International Assets Investment Management LLC acquired a new position in shares of Ingredion in the 2nd quarter valued at $36,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Ingredion in the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the business’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 completion of the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the stock in a transaction that occurred 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 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 quarter, insiders have sold 66,198 shares of company stock valued at $9,702,461. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Trading Down 0.3 %

Ingredion stock opened at $144.31 on Friday. Ingredion Incorporated has a 12 month low of $105.78 and a 12 month high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.40 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.24 and a beta of 0.74. The company’s fifty day simple moving average is $141.59 and its 200-day simple moving average is $130.51.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group upped their price objective 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. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a research note on Monday, December 2nd. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Oppenheimer lifted their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

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.