Fmr LLC reduced its holdings in shares of Ingredion Inc (NYSE:INGR) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 991,435 shares of the company’s stock after selling 130,792 shares during the quarter. Fmr LLC owned 1.37% of Ingredion worth $109,752,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Boston Private Wealth LLC raised its position in shares of Ingredion by 7.0% during the 1st quarter. Boston Private Wealth LLC now owns 7,298 shares of the company’s stock valued at $941,000 after acquiring an additional 480 shares in the last quarter. Pitcairn Co. increased its position in Ingredion by 5.7% in the first quarter. Pitcairn Co. now owns 8,945 shares of the company’s stock worth $1,153,000 after buying an additional 484 shares during the period. Suntrust Banks Inc. increased its position in Ingredion by 4.1% in the first quarter. Suntrust Banks Inc. now owns 12,594 shares of the company’s stock worth $1,622,000 after buying an additional 497 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Ingredion by 42.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after buying an additional 500 shares during the period. Finally, KBC Group NV increased its position in Ingredion by 1.2% in the first quarter. KBC Group NV now owns 45,124 shares of the company’s stock worth $5,817,000 after buying an additional 541 shares during the period. Institutional investors own 83.60% of the company’s stock.
Several equities research analysts have weighed in on the company. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Wednesday, July 18th. ValuEngine lowered Ingredion from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 14th. Stephens reaffirmed a “hold” rating and issued a $110.00 target price on shares of Ingredion in a research report on Friday, July 13th. Citigroup lowered Ingredion from a “neutral” rating to a “sell” rating in a research report on Friday, July 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research report on Friday, July 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Ingredion has an average rating of “Hold” and a consensus target price of $131.60.
Shares of NYSE INGR opened at $104.00 on Monday. Ingredion Inc has a 1-year low of $95.01 and a 1-year high of $146.28. The company has a current ratio of 2.46, a quick ratio of 1.48 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.24 and a beta of 0.64.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. sell-side analysts anticipate that Ingredion Inc will post 7.53 EPS for the current fiscal year.
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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