AMP Capital Investors Ltd decreased its stake in shares of Ingredion Inc (NYSE:INGR) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,228 shares of the company’s stock after selling 4,972 shares during the quarter. AMP Capital Investors Ltd owned about 0.07% of Ingredion worth $5,561,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in INGR. Fuller & Thaler Asset Management Inc. raised its stake in shares of Ingredion by 42.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after purchasing an additional 500 shares during the last quarter. IBM Retirement Fund purchased a new position in shares of Ingredion in the first quarter worth $203,000. IFM Investors Pty Ltd purchased a new position in shares of Ingredion in the second quarter worth $219,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Ingredion in the second quarter worth $244,000. Finally, Candriam Luxembourg S.C.A. purchased a new position in shares of Ingredion in the first quarter worth $280,000. Institutional investors and hedge funds own 83.60% of the company’s stock.
Shares of INGR opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.46 and a quick ratio of 1.48. Ingredion Inc has a one year low of $95.01 and a one year high of $146.28. The firm has a market capitalization of $7.45 billion, a P/E ratio of 13.51, a PEG ratio of 1.24 and a beta of 0.64.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.01. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Ingredion’s revenue was up 2.7% compared to the same quarter last year. equities research analysts predict that Ingredion Inc will post 7.53 EPS for the current fiscal year.
INGR has been the subject of several research analyst reports. Stephens reaffirmed an “equal weight” rating on shares of Ingredion in a report on Thursday, June 28th. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Vertical Group raised Ingredion from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a report on Friday, July 13th. Finally, Citigroup lowered Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $131.60.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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