Clark Capital Management Group Inc. grew its holdings in Ingredion Inc (NYSE:INGR) by 93.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,470 shares of the company’s stock after purchasing an additional 143,574 shares during the quarter. Ingredion comprises about 1.3% of Clark Capital Management Group Inc.’s portfolio, making the stock its 22nd biggest position. Clark Capital Management Group Inc. owned approximately 0.41% of Ingredion worth $41,586,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in Ingredion in the 4th quarter valued at about $114,000. Focused Wealth Management Inc bought a new stake in Ingredion in the 4th quarter valued at about $140,000. Meeder Asset Management Inc. increased its position in Ingredion by 146.4% in the 4th quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock valued at $155,000 after buying an additional 659 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in Ingredion in the 3rd quarter valued at about $173,000. Finally, Steward Partners Investment Advisory LLC increased its position in Ingredion by 66.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,249 shares of the company’s stock valued at $174,000 after buying an additional 500 shares in the last quarter. 86.53% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on INGR. ValuEngine raised Ingredion from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Wednesday, January 17th. Credit Suisse Group set a $156.00 target price on Ingredion and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Stephens raised Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $146.00.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a return on equity of 20.42% and a net margin of 8.63%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 earnings per share. analysts expect that Ingredion Inc will post 8.3 earnings per share for the current year.
In other Ingredion news, SVP Robert J. Stefansic sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $129.62, for a total transaction of $1,166,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Martin Sonntag sold 16,602 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $135.01, for a total value of $2,241,436.02. Following the sale, the senior vice president now directly owns 9,875 shares of the company’s stock, valued at $1,333,223.75. The disclosure for this sale can be found here. Insiders have sold a total of 40,541 shares of company stock valued at $5,424,781 over the last three months. Corporate insiders own 1.92% of the company’s stock.
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Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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