Verition Fund Management LLC Acquires 5,855 Shares of Ingredion Incorporated (NYSE:INGR)

Verition Fund Management LLC grew its holdings in Ingredion Incorporated (NYSE:INGR) by 92.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,194 shares of the company’s stock after purchasing an additional 5,855 shares during the period. Verition Fund Management LLC’s holdings in Ingredion were worth $1,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Ingredion by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after purchasing an additional 36,421 shares in the last quarter. Cooke & Bieler LP increased its holdings in shares of Ingredion by 2.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock worth $116,765,000 after purchasing an additional 27,087 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in shares of Ingredion by 2.8% in the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

NYSE:INGR opened at $145.23 on Friday. 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 business’s 50-day simple moving average is $140.76 and its two-hundred day simple moving average is $129.51. The stock has a market cap of $9.46 billion, a PE ratio of 14.17, a P/E/G ratio of 1.28 and a beta of 0.74. Ingredion Incorporated has a 52 week low of $104.68 and a 52 week high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly 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. The business had revenue of $1.87 billion for 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 quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $2.33 earnings per share. As a group, analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,197 shares of company stock valued at $9,702,315 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INGR shares. UBS Group raised their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Stephens upgraded Ingredion to a “hold” rating in a research note on Monday, December 2nd. Barclays raised their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

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.