Ingredion Incorporated (NYSE:INGR – Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 884,100 shares, a decrease of 6.9% from the August 31st total of 949,700 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 364,100 shares, the short-interest ratio is currently 2.4 days.
Ingredion Price Performance
Shares of NYSE INGR traded down $1.42 during midday trading on Tuesday, reaching $136.01. 183,165 shares of the stock traded hands, compared to its average volume of 380,882. The company’s 50 day moving average is $130.92 and its 200 day moving average is $120.99. Ingredion has a one year low of $89.54 and a one year high of $138.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The stock has a market capitalization of $8.93 billion, a PE ratio of 13.77, a P/E/G ratio of 1.23 and a beta of 0.73.
Ingredion (NYSE:INGR – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. The business’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the company posted $2.32 EPS. On average, equities research analysts anticipate that Ingredion will post 9.95 earnings per share for the current year.
Ingredion Increases Dividend
Insider Buying and Selling at Ingredion
In related news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,045 shares of company stock valued at $3,482,491. Insiders own 1.80% of the company’s stock.
Institutional Trading of Ingredion
Several hedge funds and other institutional investors have recently bought and sold shares of INGR. Jones Financial Companies Lllp bought a new stake in shares of Ingredion during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion during the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion in the second quarter valued at approximately $33,000. Finally, Family Firm Inc. purchased a new position in Ingredion during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on INGR. Oppenheimer raised their price target on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group boosted their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets upped their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.33.
Get Our Latest Research Report on INGR
About Ingredion
Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
Read More
- Five stocks we like better than Ingredion
- When to Sell a Stock for Profit or Loss
- Why Lennar Stock Could Be the Best Play in the Housing Market
- Compound Interest and Why It Matters When Investing
- 2 Energy Stocks Fueling the AI Datacenter Boom
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.