Qube Research & Technologies Ltd acquired a new position in shares of Ingredion Inc (NYSE:INGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,428 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Harvest Group Wealth Management LLC bought a new position in Ingredion during the first quarter valued at about $36,000. Pictet Asset Management Ltd. grew its stake in shares of Ingredion by 19.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 38,827 shares of the company’s stock valued at $3,677,000 after purchasing an additional 6,218 shares during the period. AGF Investments Inc. grew its stake in shares of Ingredion by 6.2% in the 2nd quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock valued at $196,000 after purchasing an additional 138 shares during the period. ZWJ Investment Counsel Inc. grew its stake in shares of Ingredion by 86.9% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 189,322 shares of the company’s stock valued at $17,927,000 after purchasing an additional 88,051 shares during the period. Finally, Hallmark Capital Management Inc. grew its stake in shares of Ingredion by 1.6% in the 1st quarter. Hallmark Capital Management Inc. now owns 126,825 shares of the company’s stock valued at $12,009,000 after purchasing an additional 1,949 shares during the period. 88.41% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. TheStreet lowered Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Credit Suisse Group lowered their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Citigroup lowered their price objective on Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Zacks Investment Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Ingredion presently has an average rating of “Hold” and an average target price of $102.33.

In other Ingredion news, CFO James D. Gray purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the transaction, the chief financial officer now directly owns 15,222 shares in the company, valued at $1,192,948.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is owned by corporate insiders.

INGR stock opened at $77.10 on Thursday. Ingredion Inc has a 1-year low of $74.37 and a 1-year high of $107.52. The firm has a market cap of $5.11 billion, a P/E ratio of 11.14 and a beta of 0.85. The business’s 50 day moving average is $79.25 and its 200-day moving average is $86.34. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.79.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.06. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Ingredion Inc will post 6.68 EPS for the current year.

About Ingredion

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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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