Tidal Investments LLC Boosts Position in Ingredion Incorporated (NYSE:INGR)

Tidal Investments LLC grew its holdings in Ingredion Incorporated (NYSE:INGR) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,905 shares of the company’s stock after acquiring an additional 94 shares during the period. Tidal Investments LLC’s holdings in Ingredion were worth $2,720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion during the second quarter valued at $33,000. Family Firm Inc. purchased a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. International Assets Investment Management LLC purchased a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. Prospera Private Wealth LLC acquired a new position in shares of Ingredion in the 3rd quarter valued at about $41,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Ingredion in the second quarter worth about $56,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Trading Down 0.3 %

Shares of NYSE:INGR opened at $144.31 on Monday. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74. The business’s 50 day moving average price is $141.59 and its 200-day moving average price is $130.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion Incorporated has a 1 year low of $105.78 and a 1 year high of $155.44.

Ingredion (NYSE:INGR) last announced its 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. 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 quarter last year, the business earned $2.33 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Ingredion Incorporated will post 10.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INGR. 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 report on Wednesday, November 6th. Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Oppenheimer raised 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. Finally, Stephens upgraded shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.17.

Insiders Place Their Bets

In related 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 transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 directly owns 12,795 shares in the company, valued at $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. In the last three months, insiders sold 66,198 shares of company stock worth $9,702,461. Corporate 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.