Occidental Asset Management LLC raised its position in Ingredion Inc (NYSE:INGR) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,621 shares of the company’s stock after acquiring an additional 2,040 shares during the quarter. Occidental Asset Management LLC’s holdings in Ingredion were worth $546,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC acquired a new position in shares of Ingredion during the first quarter worth about $28,000. Harvest Group Wealth Management LLC acquired a new position in shares of Ingredion during the first quarter worth about $36,000. Advisory Services Network LLC grew its position in shares of Ingredion by 65.4% during the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock worth $33,000 after buying an additional 161 shares in the last quarter. Private Capital Group LLC grew its position in shares of Ingredion by 114.1% during the first quarter. Private Capital Group LLC now owns 546 shares of the company’s stock worth $52,000 after buying an additional 291 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Ingredion during the second quarter worth about $50,000. 88.82% of the stock is owned by institutional investors.
INGR traded up $0.43 on Thursday, reaching $75.18. The company’s stock had a trading volume of 15,002 shares, compared to its average volume of 681,943. The business has a 50 day simple moving average of $80.07. The company has a quick ratio of 1.51, a current ratio of 2.48 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $5.06 billion, a P/E ratio of 10.77 and a beta of 0.85. Ingredion Inc has a fifty-two week low of $74.69 and a fifty-two week high of $107.52.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.06. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, research analysts forecast that Ingredion Inc will post 6.68 EPS for the current year.
A number of equities analysts have recently commented on INGR shares. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Citigroup lowered their price objective on Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. TheStreet downgraded Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. Finally, Credit Suisse Group lowered their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Ingredion has an average rating of “Hold” and an average price target of $102.33.
In other Ingredion news, CFO James D. Gray purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $78.37 per share, with a total value of $78,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.
Ingredion Company Profile
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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