State Street Corp Has $334.86 Million Stake in Ingredion Incorporated (NYSE:INGR)

State Street Corp lifted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,436,601 shares of the company’s stock after acquiring an additional 19,560 shares during the quarter. State Street Corp’s holdings in Ingredion were worth $334,862,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in INGR. Signaturefd LLC boosted its position in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares during the period. Seelaus Asset Management LLC lifted its stake in shares of Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after buying an additional 105 shares during the last quarter. Conscious Wealth Investments LLC boosted its holdings in shares of Ingredion by 0.4% during the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock worth $2,967,000 after buying an additional 106 shares during the period. Delphi Management Inc. MA grew its stake in Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after buying an additional 123 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Ingredion by 1.1% in the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock valued at $1,728,000 after buying an additional 133 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. 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 Ingredion stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,197 shares of company stock worth $9,702,315. Corporate insiders own 1.80% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $142.77 on Tuesday. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.25 and a beta of 0.74. Ingredion Incorporated has a fifty-two week low of $105.74 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The stock has a fifty day moving average price of $140.86 and a 200-day moving average price of $129.84.

Ingredion (NYSE:INGR) last posted its quarterly earnings data 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 net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. Ingredion’s revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INGR. Stephens upgraded shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets increased their price objective 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 boosted their target price 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. Finally, UBS Group raised their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.