Investors Buy Ingredion (INGR) on Weakness
Traders purchased shares of Ingredion Inc (NYSE:INGR) on weakness during trading hours on Wednesday. $28.18 million flowed into the stock on the tick-up and $11.29 million flowed out of the stock on the tick-down, for a money net flow of $16.89 million into the stock. Of all stocks tracked, Ingredion had the 33rd highest net in-flow for the day. Ingredion traded down ($0.06) for the day and closed at $138.33
INGR has been the subject of several recent analyst reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Thursday, September 14th. Credit Suisse Group reiterated an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. BMO Capital Markets reiterated a “hold” rating and set a $125.00 target price on shares of Ingredion in a research report on Friday, September 29th. Finally, Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $140.00.
The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. The company has a market capitalization of $10,038.10, a PE ratio of 18.26, a P/E/G ratio of 1.65 and a beta of 0.72.
Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.17. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 EPS. analysts predict that Ingredion Inc will post 7.71 earnings per share for the current fiscal year.
In related news, VP James P. Zallie sold 27,972 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at $3,074,827. The disclosure for this sale can be found here. 1.92% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its position in Ingredion by 50.9% in the third quarter. Public Employees Retirement System of Ohio now owns 60,761 shares of the company’s stock worth $7,330,000 after buying an additional 20,483 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Ingredion in the third quarter worth $1,310,000. EagleClaw Capital Managment LLC lifted its position in Ingredion by 158.8% in the third quarter. EagleClaw Capital Managment LLC now owns 5,500 shares of the company’s stock worth $660,000 after buying an additional 3,375 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in Ingredion in the third quarter worth $173,000. Finally, Sterling Capital Management LLC lifted its position in Ingredion by 29.6% in the third quarter. Sterling Capital Management LLC now owns 22,469 shares of the company’s stock worth $2,711,000 after buying an additional 5,126 shares during the last quarter. Institutional investors own 83.44% of the company’s stock.
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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