Point72 Hong Kong Ltd Invests $692,000 in Ingredion Incorporated (NYSE:INGR)

Point72 Hong Kong Ltd acquired a new stake in Ingredion Incorporated (NYSE:INGR) in the third quarter, Holdings Channel reports. The firm acquired 5,033 shares of the company’s stock, valued at approximately $692,000.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion in the second quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion in the second quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in Ingredion during the 2nd quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion during the 2nd quarter worth approximately $36,000. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Performance

Shares of INGR opened at $148.19 on Tuesday. The stock has a 50-day moving average of $139.84 and a 200-day moving average of $128.84. Ingredion Incorporated has a one year low of $104.52 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The company has a market cap of $9.66 billion, a PE ratio of 14.46, a P/E/G ratio of 1.26 and a beta of 0.73.

Ingredion (NYSE:INGR) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts predict that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INGR shares. BMO Capital Markets upped their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,197 shares of company stock worth $9,702,315. 1.80% of the stock is owned by corporate insiders.

Ingredion Profile

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.