Janus Henderson Group PLC boosted its position in shares of Ingredion Inc (NYSE:INGR) by 43.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,720 shares of the company’s stock after purchasing an additional 35,100 shares during the period. Janus Henderson Group PLC owned about 0.16% of Ingredion worth $12,811,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in INGR. Fuller & Thaler Asset Management Inc. raised its stake in shares of Ingredion by 42.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after acquiring an additional 500 shares during the last quarter. IBM Retirement Fund bought a new position in shares of Ingredion in the first quarter worth about $203,000. IFM Investors Pty Ltd bought a new position in shares of Ingredion in the second quarter worth about $219,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Ingredion in the second quarter worth about $244,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Ingredion in the first quarter worth about $280,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
INGR opened at $104.00 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.46 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.45 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. Ingredion Inc has a fifty-two week low of $95.01 and a fifty-two week high of $146.28.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a net margin of 8.40% and a return on equity of 18.91%. Ingredion’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. equities research analysts anticipate that Ingredion Inc will post 7.53 earnings per share for the current fiscal year.
A number of research firms recently weighed in on INGR. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 22nd. Vertical Group raised shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Credit Suisse Group downgraded shares of Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price target for the company. in a research note on Wednesday, July 18th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $145.00 price target on shares of Ingredion in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $131.60.
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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