According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Several other analysts also recently commented on INGR. Stephens initiated coverage on shares of Ingredion in a report on Monday, October 7th. They set an “overweight” rating and a $97.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Citigroup dropped their target price on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ingredion currently has a consensus rating of “Hold” and an average price target of $101.00.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, October 31st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.73 by $0.09. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $1.70 EPS. On average, equities research analysts predict that Ingredion will post 6.55 EPS for the current fiscal year.
In other news, SVP Larry Fernandes sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the transaction, the senior vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $1,252,145.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. CNA Financial Corp bought a new position in shares of Ingredion during the 3rd quarter worth approximately $3,270,000. Goelzer Investment Management Inc. grew its stake in shares of Ingredion by 2.0% during the 3rd quarter. Goelzer Investment Management Inc. now owns 91,112 shares of the company’s stock worth $7,447,000 after acquiring an additional 1,786 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Ingredion by 1.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,192,704 shares of the company’s stock worth $97,492,000 after acquiring an additional 22,149 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Ingredion by 297.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,057 shares of the company’s stock worth $331,000 after acquiring an additional 3,037 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Ingredion by 22.6% during the 3rd quarter. First Trust Advisors LP now owns 244,982 shares of the company’s stock worth $20,025,000 after acquiring an additional 45,226 shares in the last quarter. 87.96% of the stock is owned by institutional investors.
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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