Hennessy Advisors Inc. lowered its stake in Ingredion Inc. (NYSE:INGR) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,700 shares of the company’s stock after selling 52,300 shares during the period. Ingredion makes up 1.4% of Hennessy Advisors Inc.’s portfolio, making the stock its 13th largest position. Hennessy Advisors Inc.’s holdings in Ingredion were worth $50,257,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Ingredion during the second quarter worth about $841,000. Capstone Asset Management Co. increased its stake in Ingredion by 4.5% in the second quarter. Capstone Asset Management Co. now owns 7,506 shares of the company’s stock worth $971,000 after buying an additional 323 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Ingredion during the second quarter worth about $12,068,000. Fisher Asset Management LLC increased its stake in Ingredion by 1.1% in the second quarter. Fisher Asset Management LLC now owns 764,509 shares of the company’s stock worth $101,083,000 after buying an additional 8,139 shares during the last quarter. Finally, American National Bank bought a new stake in Ingredion during the second quarter worth about $194,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
Ingredion Inc. (NYSE:INGR) traded up 0.27% during mid-day trading on Monday, reaching $120.25. 336,857 shares of the company’s stock traded hands. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.92 and a beta of 0.78. The company has a 50-day moving average of $127.67 and a 200-day moving average of $128.72. Ingredion Inc. has a 52-week low of $84.57 and a 52-week high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.18. Ingredion had a net margin of 8.50% and a return on equity of 21.14%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm earned $1.64 EPS. Ingredion’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Ingredion Inc. will post $7.06 EPS for the current year.
A number of equities research analysts have recently issued reports on INGR shares. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research report on Saturday, November 5th. Societe Generale started coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating for the company. Finally, Credit Suisse Group AG lifted their price target on shares of Ingredion from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Ingredion currently has an average rating of “Hold” and an average price target of $130.67.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).