BlueMountain Capital Management LLC increased its stake in Ingredion Inc (NYSE:INGR) by 781.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,060 shares of the company’s stock after acquiring an additional 40,832 shares during the period. BlueMountain Capital Management LLC’s holdings in Ingredion were worth $5,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INGR. Boston Private Wealth LLC grew its holdings 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 worth $941,000 after acquiring an additional 480 shares during the period. Pitcairn Co. grew its holdings in shares of Ingredion by 5.7% during the 1st quarter. Pitcairn Co. now owns 8,945 shares of the company’s stock worth $1,153,000 after acquiring an additional 484 shares during the period. Suntrust Banks Inc. grew its holdings in shares of Ingredion by 4.1% during the 1st quarter. Suntrust Banks Inc. now owns 12,594 shares of the company’s stock worth $1,622,000 after acquiring an additional 497 shares during the period. State Treasurer State of Michigan grew its holdings in shares of Ingredion by 1.9% during the 1st quarter. State Treasurer State of Michigan now owns 26,300 shares of the company’s stock worth $3,391,000 after acquiring an additional 500 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Ingredion by 42.2% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after acquiring an additional 500 shares during the period. 83.63% of the stock is owned by institutional investors.
Ingredion stock opened at $102.40 on Friday. 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 company has a market capitalization of $7.30 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.22 and a beta of 0.64. Ingredion Inc has a twelve month low of $95.01 and a twelve month high of $146.28.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.01. The company had revenue of $1.50 billion for 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%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. analysts expect that Ingredion Inc will post 7.53 EPS for the current fiscal year.
INGR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Stephens downgraded Ingredion from an “overweight” rating to an “equal weight” rating in a report on Friday, June 22nd. Vertical Group upgraded Ingredion from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Credit Suisse Group downgraded Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Wednesday, July 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $145.00 target price on shares of Ingredion in a report on Friday, July 13th. Two investment 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 company presently has a consensus rating of “Hold” and a consensus 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.
Featured Story: Diversification For Individual Investors
Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Inc (NYSE:INGR).
Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.