FDx Advisors Inc. boosted its holdings in shares of Ingredion Inc (NYSE:INGR) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,023 shares of the company’s stock after purchasing an additional 687 shares during the period. FDx Advisors Inc.’s holdings in Ingredion were worth $1,681,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new stake in Ingredion during the fourth quarter worth $114,000. Toronto Dominion Bank lifted its stake in shares of Ingredion by 10.6% in the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 659 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 acquiring an additional 500 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of Ingredion in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.
INGR has been the subject of a number of research reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research note on Wednesday, January 24th. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Jefferies Group set a $145.00 price target on Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. Finally, BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $146.00.
Ingredion Inc (NYSE:INGR) opened at $128.73 on Friday. Ingredion Inc has a 12 month low of $113.42 and a 12 month high of $146.28. The company has a market capitalization of $9,298.94, a price-to-earnings ratio of 18.21, a PEG ratio of 1.41 and a beta of 0.71. The company has a quick ratio of 1.66, a current ratio of 2.52 and a debt-to-equity ratio of 0.60.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.73 EPS for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.01). Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The firm’s revenue was up 24.2% on a year-over-year basis. sell-side analysts predict that Ingredion Inc will post 8.3 earnings per share for the current fiscal year.
In related news, SVP Robert J. Stefansic sold 9,000 shares of the firm’s stock in a transaction 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 is available through this link. Also, SVP Martin Sonntag sold 14,939 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.00, for a total value of $2,016,765.00. Following the transaction, the senior vice president now directly owns 9,875 shares of the company’s stock, valued at $1,333,125. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,541 shares of company stock valued at $5,424,781. 1.92% of the stock is owned by corporate insiders.
Ingredion Company Profile
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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