Sunbelt Securities Inc. Acquires 534 Shares of Ingredion Incorporated (NYSE:INGR)

Sunbelt Securities Inc. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 33.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,128 shares of the company’s stock after purchasing an additional 534 shares during the quarter. Sunbelt Securities Inc.’s holdings in Ingredion were worth $292,000 at the end of the most recent quarter.

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

Ingredion Stock Performance

INGR stock opened at $144.31 on Friday. Ingredion Incorporated has a one year low of $105.78 and a one year high of $155.44. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.24 and a beta of 0.74. 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 firm has a 50-day simple moving average of $141.40 and a two-hundred day simple moving average of $130.23.

Ingredion (NYSE:INGR) last posted 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 net margin of 9.05% and a return on equity of 17.75%. The company 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 company posted $2.33 earnings per share. Ingredion’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INGR shares. Oppenheimer lifted 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. Stephens upgraded Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays boosted their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.17.

Insider Buying and Selling

In other news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now directly 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 through this hyperlink. Also, 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 value of $49,558.18. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 66,198 shares of company stock worth $9,702,461 in the last ninety days. 1.80% of the stock is owned by insiders.

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.