Man Group plc increased its position in Ingredion Inc (NYSE:INGR) by 28.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 223,251 shares of the company’s stock after acquiring an additional 49,510 shares during the quarter. Man Group plc owned about 0.33% of Ingredion worth $18,248,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Cypress Capital Management LLC bought a new position in shares of Ingredion in the third quarter worth $5,516,000. Comerica Bank lifted its holdings in Ingredion by 3.2% during the 2nd quarter. Comerica Bank now owns 32,714 shares of the company’s stock worth $2,627,000 after purchasing an additional 1,022 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Ingredion by 16.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 95,579 shares of the company’s stock worth $7,813,000 after purchasing an additional 13,589 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Ingredion by 33.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,332 shares of the company’s stock valued at $4,812,000 after buying an additional 14,561 shares in the last quarter. Finally, AGF Investments Inc. grew its holdings in Ingredion by 6.2% during the 2nd quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock valued at $196,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 86.40% of the company’s stock.
INGR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup reduced their price objective on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. ValuEngine raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Stephens initiated coverage on shares of Ingredion in a report on Monday, October 7th. They set an “overweight” rating and a $97.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.33.
In other news, SVP Larry Fernandes sold 2,200 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the transaction, the senior vice president now owns 15,172 shares of the company’s stock, valued at $1,252,145.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.
Shares of INGR stock opened at $83.89 on Tuesday. The company has a market capitalization of $5.55 billion, a PE ratio of 12.12 and a beta of 0.80. Ingredion Inc has a 52-week low of $73.00 and a 52-week high of $106.11. The business’s fifty day moving average is $82.28 and its 200 day moving average is $80.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.53 and a current ratio of 2.45.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, October 31st. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ingredion had a return on equity of 17.69% and a net margin of 6.67%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 earnings per share. On average, sell-side analysts forecast that Ingredion Inc will post 6.55 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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