ING Groep NV purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,303 shares of the company’s stock, valued at approximately $1,109,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BKD Wealth Advisors LLC increased its position in shares of Ingredion by 6.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after buying an additional 141 shares in the last quarter. Assetmark Inc. increased its position in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares in the last quarter. Sit Investment Associates Inc. increased its position in shares of Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock worth $560,000 after buying an additional 3,450 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Ingredion by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 286,595 shares of the company’s stock worth $34,515,000 after buying an additional 24,100 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Ingredion by 28.8% in the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock worth $30,902,000 after buying an additional 57,400 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.
Shares of Ingredion Incorporated (NYSE INGR) traded down 0.96% on Friday, hitting $121.74. 351,261 shares of the company were exchanged. The firm’s 50-day moving average is $121.02 and its 200-day moving average is $119.88. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.00. The stock has a market capitalization of $8.73 billion, a PE ratio of 18.31 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. Ingredion’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. Equities research analysts predict that Ingredion Incorporated will post $7.64 earnings per share for the current year.
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INGR has been the topic of several research reports. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research report on Wednesday, April 26th. BidaskClub lowered shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Ingredion currently has a consensus rating of “Hold” and an average price target of $140.50.
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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