First Mercantile Trust Co. raised its position in Ingredion Incorporated (NYSE:INGR) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,432 shares of the company’s stock after buying an additional 232 shares during the period. First Mercantile Trust Co.’s holdings in Ingredion were worth $171,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. BKD Wealth Advisors LLC raised its stake 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 valued at $293,000 after buying an additional 141 shares during the last quarter. Assetmark Inc. raised its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after buying an additional 500 shares during the last quarter. Sit Investment Associates Inc. raised its stake 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 valued at $560,000 after buying an additional 3,450 shares during the last quarter. Canada Pension Plan Investment Board raised its stake 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 valued at $34,515,000 after buying an additional 24,100 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Ingredion by 28.8% in the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock valued at $30,902,000 after buying an additional 57,400 shares during the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.
Ingredion Incorporated (NYSE:INGR) opened at 123.64 on Wednesday. The stock has a market capitalization of $8.87 billion, a P/E ratio of 18.60 and a beta of 0.60. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $140.00. The stock has a 50 day moving average price of $121.12 and a 200 day moving average price of $119.82.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts predict that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.
Several brokerages recently commented on INGR. BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a report on Tuesday, May 16th. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a report on Wednesday, June 14th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $140.50.
Ingredion Company Profile
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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