Janus Henderson Group PLC boosted its position in shares of Ingredion Inc (NYSE:INGR) by 43.5% in the second quarter, HoldingsChannel.com reports. The firm owned 115,720 shares of the company’s stock after purchasing an additional 35,100 shares during the period. Janus Henderson Group PLC’s holdings in Ingredion were worth $12,811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INGR. Fuller & Thaler Asset Management Inc. grew its holdings in Ingredion by 42.2% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after purchasing an additional 500 shares during the period. IBM Retirement Fund acquired a new position in shares of Ingredion in the first quarter valued at approximately $203,000. IFM Investors Pty Ltd acquired a new position in shares of Ingredion in the second quarter valued at approximately $219,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Ingredion in the second quarter valued at approximately $244,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Ingredion in the first quarter valued at approximately $280,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.
Several research firms have recently weighed in on INGR. Credit Suisse Group cut shares of Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price target for the company. in a report on Wednesday, July 18th. ValuEngine cut shares of Ingredion from a “sell” rating to a “strong sell” rating in a report on Saturday, July 14th. Stephens reiterated a “hold” rating and issued a $110.00 price target on shares of Ingredion in a report on Friday, July 13th. Citigroup cut shares of Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Ingredion currently has a consensus rating of “Hold” and an average target price of $131.60.
Ingredion (NYSE:INGR) last released 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 analysts’ expectations of $1.47 billion. Ingredion had a net margin of 8.40% and a return on equity of 18.91%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. equities research analysts predict that Ingredion Inc will post 7.53 EPS for the current fiscal year.
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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