&Partners Purchases Shares of 2,481 Ingredion Incorporated (NYSE:INGR)

&Partners bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,481 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in INGR. International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the fourth quarter worth about $3,700,000. Federated Hermes Inc. increased its position in shares of Ingredion by 1.1% during the fourth quarter. Federated Hermes Inc. now owns 22,228 shares of the company’s stock worth $2,412,000 after purchasing an additional 235 shares in the last quarter. Paradiem LLC increased its position in shares of Ingredion by 64.2% during the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock worth $7,943,000 after purchasing an additional 28,617 shares in the last quarter. IVY Lane Capital Management LLC increased its position in shares of Ingredion by 44.0% during the fourth quarter. IVY Lane Capital Management LLC now owns 72,000 shares of the company’s stock worth $7,814,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Ingredion by 55.6% during the fourth quarter. Van ECK Associates Corp now owns 55,511 shares of the company’s stock worth $6,024,000 after purchasing an additional 19,826 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Price Performance

Shares of INGR opened at $132.82 on Monday. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $133.33. The stock’s 50 day moving average is $120.60 and its two-hundred day moving average is $117.28. The firm has a market capitalization of $8.72 billion, a PE ratio of 13.31, a P/E/G ratio of 1.16 and a beta of 0.72. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company earned $2.32 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts anticipate that Ingredion Incorporated will post 9.7 earnings per share for the current year.

Insider Buying and Selling at Ingredion

In other news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the sale, the chief executive officer now owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,695 shares of company stock valued at $3,349,275. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Oppenheimer boosted their price target on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and an average target price of $137.33.

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.