Rhumbline Advisers Grows Stake in Ingredion Incorporated $INGR

Rhumbline Advisers increased its position in Ingredion Incorporated (NYSE:INGR) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 188,158 shares of the company’s stock after acquiring an additional 690 shares during the quarter. Rhumbline Advisers’ holdings in Ingredion were worth $25,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Wealthspire Advisors LLC grew its stake in shares of Ingredion by 5.8% during the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock valued at $228,000 after purchasing an additional 92 shares during the period. Amalgamated Bank lifted its stake in shares of Ingredion by 0.3% in the 2nd quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock worth $4,094,000 after purchasing an additional 93 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Ingredion by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock worth $2,100,000 after buying an additional 100 shares during the last quarter. Bell Investment Advisors Inc grew its position in Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock valued at $47,000 after buying an additional 101 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Ingredion by 3.7% during the second quarter. ProShare Advisors LLC now owns 2,851 shares of the company’s stock valued at $387,000 after buying an additional 103 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.4%

Shares of Ingredion stock opened at $107.67 on Thursday. Ingredion Incorporated has a fifty-two week low of $102.31 and a fifty-two week high of $150.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The company has a market capitalization of $6.84 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.95 and a beta of 0.72. The company has a fifty day moving average of $115.76 and a 200 day moving average of $127.06.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.73 by $0.02. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.90 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INGR has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingredion in a research note on Monday. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. UBS Group lowered their target price on Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Stephens reduced their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, BMO Capital Markets lowered their price objective on Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $124.33.

Ingredion Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.