Riverhead Capital Management LLC boosted its holdings in shares of Ingredion Inc (NYSE:INGR) by 170.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,500 shares of the company’s stock after purchasing an additional 18,600 shares during the period. Riverhead Capital Management LLC’s holdings in Ingredion were worth $3,096,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of INGR. Point72 Hong Kong Ltd purchased a new stake in shares of Ingredion in the second quarter valued at about $153,000. Legacy Financial Advisors Inc. boosted its holdings in shares of Ingredion by 382.7% in the third quarter. Legacy Financial Advisors Inc. now owns 1,559 shares of the company’s stock valued at $163,000 after acquiring an additional 1,236 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings 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 valued at $187,000 after acquiring an additional 500 shares in the last quarter. People s United Financial Inc. purchased a new stake in shares of Ingredion in the third quarter valued at about $202,000. Finally, Ffcm LLC purchased a new stake in shares of Ingredion in the third quarter valued at about $259,000. 85.28% of the stock is currently owned by institutional investors.
Shares of NYSE INGR opened at $97.21 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.50 and a debt-to-equity ratio of 0.55. Ingredion Inc has a 52 week low of $89.48 and a 52 week high of $146.28. The stock has a market capitalization of $7.03 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.31 and a beta of 0.63.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, November 1st. The company reported $1.70 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.70. Ingredion had a net margin of 7.40% and a return on equity of 17.55%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business earned $2.21 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Ingredion Inc will post 6.92 EPS for the current fiscal year.
Several brokerages have recently weighed in on INGR. ValuEngine raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, September 27th. Citigroup lowered their target price on shares of Ingredion from $95.00 to $89.00 and set a “sell” rating on the stock in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Jefferies Financial Group lifted their target price on shares of Ingredion to $145.00 and gave the company a “buy” rating in a report on Monday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $124.50.
In other Ingredion news, VP Christine M. Castellano sold 37,267 shares of Ingredion stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $105.30, for a total transaction of $3,924,215.10. Following the completion of the transaction, the vice president now owns 28,168 shares in the company, valued at $2,966,090.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barbara A. Klein sold 1,775 shares of Ingredion stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $103.46, for a total transaction of $183,641.50. The disclosure for this sale can be found here. Insiders sold 52,303 shares of company stock valued at $5,502,781 in the last quarter. Company insiders own 1.80% of the company’s stock.
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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