First Republic Investment Management Inc. Has $490,000 Holdings in Ingredion Inc (INGR)
First Republic Investment Management Inc. raised its stake in shares of Ingredion Inc (NYSE:INGR) by 32.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,065 shares of the company’s stock after acquiring an additional 992 shares during the period. First Republic Investment Management Inc.’s holdings in Ingredion were worth $490,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in Ingredion by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock worth $168,528,000 after purchasing an additional 651,035 shares during the period. LSV Asset Management increased its position in Ingredion by 20.2% during the 2nd quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock worth $155,408,000 after purchasing an additional 218,710 shares during the period. Principal Financial Group Inc. increased its position in Ingredion by 19.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock worth $146,670,000 after purchasing an additional 193,722 shares during the period. Allianz Asset Management GmbH increased its position in Ingredion by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock worth $139,491,000 after purchasing an additional 24,174 shares during the period. Finally, AJO LP increased its position in Ingredion by 2.8% during the 2nd quarter. AJO LP now owns 1,052,662 shares of the company’s stock worth $125,488,000 after purchasing an additional 28,372 shares during the period. 83.44% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on INGR. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Credit Suisse Group restated an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Finally, Jefferies Group set a $145.00 price target on Ingredion and gave the stock a “buy” rating in a report on Sunday, October 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.17. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 EPS. analysts expect that Ingredion Inc will post 7.71 earnings per share for the current year.
In related news, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the sale, the vice president now owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jorgen Kokke sold 20,674 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the sale, the senior vice president now owns 23,119 shares in the company, valued at approximately $3,074,827. The disclosure for this sale can be found here. Corporate insiders own 1.92% of the company’s stock.
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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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