Quest Partners LLC Takes $86,000 Position in Ingredion Incorporated (NYSE:INGR)

Quest Partners LLC acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 628 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after acquiring an additional 47,225 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after acquiring an additional 3,681 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Ingredion by 55.7% during the second quarter. AQR Capital Management LLC now owns 321,729 shares of the company’s stock worth $36,902,000 after acquiring an additional 115,147 shares in the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of Ingredion during the second quarter worth $528,000. Finally, Equity Investment Corp raised its holdings in shares of Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after acquiring an additional 26,526 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,328 shares of company stock valued at $1,649,741. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

INGR has been the subject of several recent research reports. UBS Group increased their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets raised their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Trading Up 0.2 %

Shares of NYSE:INGR opened at $147.34 on Friday. The company has a market cap of $9.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.26 and a beta of 0.73. The stock’s 50-day moving average is $139.58 and its 200-day moving average is $128.49. Ingredion Incorporated has a 52-week low of $101.00 and a 52-week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. Equities research analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current 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.