Ingredion Inc (NYSE:INGR) Short Interest Update
Ingredion Inc (NYSE:INGR) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,851,900 shares, a growth of 20.4% from the June 30th total of 3,199,300 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 605,500 shares, the short-interest ratio is presently 6.4 days.
Ingredion stock traded up $0.31 during trading hours on Tuesday, hitting $76.12. The company had a trading volume of 588,494 shares, compared to its average volume of 561,343. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 11.00 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 2.48. Ingredion has a 1 year low of $74.94 and a 1 year high of $107.52. The business’s 50-day simple moving average is $80.32.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. Research analysts forecast that Ingredion will post 6.68 EPS for the current fiscal year.
In other Ingredion news, CFO James D. Gray bought 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at $1,192,948.14. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGR. Virtus ETF Advisers LLC acquired a new stake in shares of Ingredion in the 2nd quarter valued at about $2,240,000. AXA grew its stake in shares of Ingredion by 47.7% in the 2nd quarter. AXA now owns 167,250 shares of the company’s stock valued at $13,797,000 after buying an additional 54,000 shares during the period. Bank of Nova Scotia grew its stake in shares of Ingredion by 14.8% in the 2nd quarter. Bank of Nova Scotia now owns 53,953 shares of the company’s stock valued at $4,451,000 after buying an additional 6,953 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Ingredion in the 2nd quarter valued at about $29,000. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Ingredion by 3.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 336,886 shares of the company’s stock valued at $27,790,000 after buying an additional 12,322 shares during the period. 88.82% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Credit Suisse Group lowered their price target on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. They noted that the move was a valuation call. TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Finally, Citigroup reduced their price target on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Ingredion has a consensus rating of “Hold” and a consensus price target of $102.33.
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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