Centric Wealth Management Increases Stake in Ingredion Incorporated (NYSE:INGR)

Centric Wealth Management increased its holdings in Ingredion Incorporated (NYSE:INGR) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,811 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Centric Wealth Management’s holdings in Ingredion were worth $2,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares during the last quarter. Point72 DIFC Ltd raised its stake 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 valued at $438,000 after acquiring an additional 3,681 shares during the last quarter. AQR Capital Management LLC raised its stake 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 valued at $36,902,000 after acquiring an additional 115,147 shares during the last quarter. Bridges Investment Management Inc. bought a new stake in shares of Ingredion in the second quarter worth about $528,000. Finally, Equity Investment Corp increased its holdings in Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after purchasing an additional 26,526 shares during the period. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Down 1.2 %

NYSE:INGR opened at $147.03 on Friday. The firm has a 50-day simple moving average of $139.33 and a two-hundred day simple moving average of $128.31. The firm has a market cap of $9.58 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.26 and a beta of 0.73. Ingredion Incorporated has a fifty-two week low of $100.90 and a fifty-two 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 released its quarterly earnings data 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 business 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 EPS. Analysts predict that Ingredion Incorporated will post 10.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on INGR shares. BMO Capital Markets lifted their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Oppenheimer boosted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays increased 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. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and an average price target of $155.17.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following 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 disclosure for this sale can be found here. Insiders have sold 11,328 shares of company stock valued at $1,649,741 over the last ninety days. Insiders own 1.80% of the company’s stock.

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.