IHT Wealth Management LLC Invests $221,000 in Ingredion Incorporated (NYSE:INGR)

IHT Wealth Management LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,618 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of Ingredion by 5.7% in the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock valued at $216,000 after purchasing an additional 85 shares during the last quarter. Seelaus Asset Management LLC grew its position in Ingredion by 3.3% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $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% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after acquiring an additional 106 shares in the last quarter. Delphi Management Inc. MA boosted its holdings in shares of Ingredion by 0.8% in 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 acquiring an additional 133 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Stock Up 0.8 %

INGR opened at $143.90 on Wednesday. The business’s fifty day moving average is $141.02 and its two-hundred day moving average is $130.03. 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 company has a market cap of $9.38 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.25 and a beta of 0.74. Ingredion Incorporated has a one year low of $105.74 and a one year high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 EPS 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on INGR. Barclays lifted their price objective on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer lifted 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. UBS Group lifted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Stephens upgraded shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,197 shares of company stock valued at $9,702,315 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Ingredion Company 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.