Ingredion Inc (NYSE:INGR) VP Christine M. Castellano sold 37,267 shares of Ingredion stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $105.30, for a total value of $3,924,215.10. Following the sale, the vice president now directly owns 28,168 shares in the company, valued at $2,966,090.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of INGR traded up $0.68 during mid-day trading on Thursday, reaching $106.44. The company had a trading volume of 5,287 shares, compared to its average volume of 580,006. The company has a quick ratio of 1.53, a current ratio of 2.50 and a debt-to-equity ratio of 0.55. Ingredion Inc has a 52 week low of $89.48 and a 52 week high of $146.28. The stock has a market cap of $7.46 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.39 and a beta of 0.64.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, November 1st. The company reported $1.70 EPS for the quarter, hitting analysts’ consensus estimates of $1.70. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $2.21 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion Inc will post 6.92 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. boosted its position in shares of Ingredion by 42.2% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after purchasing an additional 500 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Ingredion by 8.9% in the 3rd quarter. Toronto Dominion Bank now owns 7,919 shares of the company’s stock worth $831,000 after purchasing an additional 649 shares in the last quarter. Weybosset Research & Management LLC boosted its position in shares of Ingredion by 1.1% in the 2nd quarter. Weybosset Research & Management LLC now owns 68,078 shares of the company’s stock worth $7,536,000 after purchasing an additional 719 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Ingredion by 20.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,327 shares of the company’s stock worth $479,000 after purchasing an additional 733 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Ingredion by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 47,076 shares of the company’s stock worth $5,212,000 after purchasing an additional 762 shares in the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
INGR has been the topic of several research reports. Citigroup raised Ingredion from a “sell” rating to a “neutral” rating in a research report on Thursday, November 1st. Zacks Investment Research cut Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Credit Suisse Group cut Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Wednesday, July 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research report on Friday, July 13th. Finally, ValuEngine raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $124.50.
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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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