Erste Asset Management GmbH Acquires Shares of 4,900 Ingredion Incorporated (NYSE:INGR)

Erste Asset Management GmbH bought a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,900 shares of the company’s stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INGR. Cetera Advisors LLC lifted its holdings in Ingredion by 60.6% during the first quarter. Cetera Advisors LLC now owns 4,864 shares of the company’s stock valued at $568,000 after purchasing an additional 1,835 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ingredion by 127.3% in the 2nd quarter. GAMMA Investing LLC now owns 600 shares of the company’s stock worth $69,000 after buying an additional 336 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion during the 2nd quarter worth approximately $26,000. Finally, CWM LLC raised its holdings in shares of Ingredion by 59.7% during the second quarter. CWM LLC now owns 3,923 shares of the company’s stock valued at $450,000 after acquiring an additional 1,467 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 66,197 shares of company stock worth $9,702,315. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INGR. Oppenheimer lifted 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. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets boosted their price target on shares of 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 report on Wednesday, November 6th. Finally, UBS Group boosted their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Performance

NYSE:INGR opened at $149.13 on Wednesday. The company’s 50-day moving average is $140.11 and its two-hundred day moving average is $129.05. Ingredion Incorporated has a 1-year low of $104.52 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. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.27 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The firm 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 firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 earnings per share. Analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current year.

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.