Kingsview Wealth Management LLC purchased a new position in Ingredion Incorporated (NYSE:INGR – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 46,722 shares of the company’s stock, valued at approximately $4,425,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of INGR. International Assets Investment Management LLC bought a new stake in Ingredion in the 4th quarter valued at about $30,000. GHP Investment Advisors Inc. bought a new position in Ingredion in the first quarter worth approximately $33,000. Bell Investment Advisors Inc bought a new position in Ingredion in the second quarter worth approximately $34,000. Los Angeles Capital Management LLC acquired a new stake in Ingredion in the fourth quarter valued at approximately $36,000. Finally, Root Financial Partners LLC grew its stake in Ingredion by 83.7% in the first quarter. Root Financial Partners LLC now owns 371 shares of the company’s stock valued at $42,000 after acquiring an additional 169 shares during the period. 85.27% of the stock is owned by institutional investors.
Ingredion Stock Up 0.9%
Ingredion stock opened at $104.46 on Friday. Ingredion Incorporated has a fifty-two week low of $94.44 and a fifty-two week high of $130.48. The stock has a market cap of $6.59 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.62. The firm’s 50-day simple moving average is $101.38 and its 200 day simple moving average is $106.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 2.80.
Insider Activity
In other news, Director David B. Fischer sold 1,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $102.31, for a total value of $170,039.22. Following the completion of the transaction, the director directly owned 19,930 shares of the company’s stock, valued at $2,039,038.30. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. UBS Group boosted their price target on shares of Ingredion from $104.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Benchmark restated a “buy” rating on shares of Ingredion in a report on Tuesday, June 9th. Finally, Barclays dropped their price objective on shares of Ingredion from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Ingredion currently has an average rating of “Hold” and an average target price of $121.29.
Get Our Latest Research Report on Ingredion
About Ingredion
Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.
The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.
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