Centric Wealth Management Grows Holdings in Ingredion Incorporated (NYSE:INGR)

Centric Wealth Management raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other hedge funds have also modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ingredion during the second quarter worth $26,000. EverSource Wealth Advisors LLC grew its position in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion in the second quarter worth about $33,000. Family Firm Inc. purchased a new stake in shares of Ingredion in the second quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion during the second quarter valued at approximately $36,000. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of Ingredion 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 directly owns 52,159 shares in the company, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,328 shares of company stock worth $1,649,741 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on INGR shares. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays lifted their price objective 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. Oppenheimer upped their target price 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. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Ingredion Price Performance

Shares of INGR stock opened at $147.03 on Friday. The stock has a 50 day moving average price of $139.33 and a 200 day moving average price of $128.31. Ingredion Incorporated has a 52-week low of $100.90 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. The firm has a market capitalization 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 (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side 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.