NumerixS Investment Technologies Inc purchased a new stake in shares of Ingredion Inc (NYSE:INGR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,290 shares of the company’s stock, valued at approximately $117,000.
Several other hedge funds have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its position in Ingredion by 10,975.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after buying an additional 4,498,125 shares during the period. Bank of New York Mellon Corp increased its position in Ingredion by 66.8% in the third quarter. Bank of New York Mellon Corp now owns 1,648,711 shares of the company’s stock worth $173,050,000 after buying an additional 660,285 shares during the period. FMR LLC increased its position in Ingredion by 49.3% in the third quarter. FMR LLC now owns 1,480,245 shares of the company’s stock worth $155,366,000 after buying an additional 488,810 shares during the period. Panagora Asset Management Inc. increased its position in Ingredion by 848.3% in the third quarter. Panagora Asset Management Inc. now owns 533,197 shares of the company’s stock worth $55,964,000 after buying an additional 476,973 shares during the period. Finally, Federated Investors Inc. PA increased its position in Ingredion by 1,249.6% in the third quarter. Federated Investors Inc. PA now owns 395,810 shares of the company’s stock worth $41,545,000 after buying an additional 366,481 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on INGR. Zacks Investment Research lowered Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Vertical Group cut Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine cut Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Seaport Global Securities started coverage on Ingredion in a research note on Thursday, February 21st. They issued a “buy” rating for the company. Finally, Jefferies Financial Group increased their price target on Ingredion to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $117.80.
NYSE:INGR opened at $93.38 on Friday. Ingredion Inc has a 1 year low of $87.02 and a 1 year high of $132.95. The firm has a market capitalization of $6.21 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.16 and a beta of 0.68. The company has a quick ratio of 1.39, a current ratio of 2.26 and a debt-to-equity ratio of 0.80.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.01). Ingredion had a return on equity of 17.77% and a net margin of 7.31%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $1.35 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that Ingredion Inc will post 7.25 earnings per share for the current year.
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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.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
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