Jane Street Group LLC Boosts Stock Holdings in Ingredion Incorporated (NYSE:INGR)

Jane Street Group LLC raised its stake in Ingredion Incorporated (NYSE:INGR) by 375.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,363 shares of the company’s stock after purchasing an additional 30,294 shares during the quarter. Jane Street Group LLC’s holdings in Ingredion were worth $5,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INGR. Dimensional Fund Advisors LP raised its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after buying an additional 125,543 shares during the period. State Street Corp raised its stake in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after acquiring an additional 19,560 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after acquiring an additional 846,967 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock valued at $211,529,000 after purchasing an additional 36,421 shares in the last quarter. Finally, Cooke & Bieler LP raised its position in Ingredion by 2.7% in the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after purchasing an additional 27,087 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was 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 of the company’s stock, valued at approximately $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,198 shares of company stock worth $9,702,461 over the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Ingredion Price Performance

Shares of INGR stock opened at $142.98 on Tuesday. The firm has a fifty day moving average of $141.59 and a two-hundred day moving average of $130.62. The firm has a market cap of $9.32 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.24 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $105.78 and a 1-year high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. Ingredion’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. As a group, research analysts anticipate 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.