Fuller & Thaler Asset Management Inc. boosted its stake in Ingredion Inc (NYSE:INGR) by 42.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,685 shares of the company’s stock after purchasing an additional 500 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Ingredion were worth $187,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Trexquant Investment LP purchased a new stake in Ingredion in the 2nd quarter valued at approximately $1,915,000. Arizona State Retirement System lifted its stake in Ingredion by 24.8% in the 2nd quarter. Arizona State Retirement System now owns 87,923 shares of the company’s stock valued at $9,733,000 after buying an additional 17,471 shares in the last quarter. SG Americas Securities LLC lifted its stake in Ingredion by 5.2% in the 2nd quarter. SG Americas Securities LLC now owns 17,960 shares of the company’s stock valued at $1,988,000 after buying an additional 889 shares in the last quarter. Strs Ohio lifted its stake in Ingredion by 67.5% in the 2nd quarter. Strs Ohio now owns 11,288 shares of the company’s stock valued at $1,249,000 after buying an additional 4,547 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Ingredion by 45.7% in the 2nd quarter. Toronto Dominion Bank now owns 7,270 shares of the company’s stock valued at $804,000 after buying an additional 2,281 shares in the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.
INGR stock opened at $101.14 on Tuesday. Ingredion Inc has a 1 year low of $95.01 and a 1 year high of $146.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.48 and a current ratio of 2.46. The company has a market capitalization of $7.35 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.23 and a beta of 0.69.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. Ingredion’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. analysts expect that Ingredion Inc will post 7.53 earnings per share for the current year.
INGR has been the topic of a number of recent research reports. 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 note on Wednesday, July 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research note on Friday, July 13th. ValuEngine lowered Ingredion from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. BMO Capital Markets reduced their target price on Ingredion from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Friday, May 4th. Finally, Citigroup lowered Ingredion from a “buy” rating to a “neutral” rating in a research note on Friday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $131.60.
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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