Benjamin Edwards Inc. Invests $1.35 Million in Ingredion Incorporated (NYSE:INGR)

Benjamin Edwards Inc. purchased a new position in Ingredion Incorporated (NYSE:INGR) during the 3rd quarter, HoldingsChannel reports. The firm purchased 9,805 shares of the company’s stock, valued at approximately $1,347,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC grew its position in Ingredion by 60.6% in the 1st quarter. Cetera Advisors LLC now owns 4,864 shares of the company’s stock worth $568,000 after purchasing an additional 1,835 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 in the last quarter. GAMMA Investing LLC increased its position in Ingredion by 127.3% in the 2nd quarter. GAMMA Investing LLC now owns 600 shares of the company’s stock valued at $69,000 after acquiring an additional 336 shares during the period. CWM LLC raised its stake in Ingredion by 59.7% during the 2nd quarter. CWM LLC now owns 3,923 shares of the company’s stock valued at $450,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Aspire Private Capital LLC boosted its position in Ingredion by 21.6% during the 2nd quarter. Aspire Private Capital LLC now owns 3,213 shares of the company’s stock worth $369,000 after acquiring an additional 571 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on 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 transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,197 shares of company stock worth $9,702,315 in the last quarter. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer raised their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets raised their target price 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. Barclays upped their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. 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. Finally, Stephens raised Ingredion to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Trading Down 1.1 %

Shares of NYSE:INGR opened at $147.81 on Friday. 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 market capitalization of $9.63 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.28 and a beta of 0.74. Ingredion Incorporated has a 1-year low of $104.68 and a 1-year high of $155.44. The company has a 50 day moving average price of $140.60 and a 200 day moving average price of $129.32.

Ingredion (NYSE:INGR) last released 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. The business 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%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $2.33 EPS. On average, research analysts anticipate that Ingredion Incorporated will post 10.6 EPS 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.