Ingredion Inc. (INGR) Shares Sold by Hennessy Advisors Inc.
Hennessy Advisors Inc. decreased its stake in Ingredion Inc. (NYSE:INGR) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,700 shares of the company’s stock after selling 52,300 shares during the period. Ingredion accounts for approximately 1.4% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 13th largest position. Hennessy Advisors Inc. owned 0.52% of Ingredion worth $50,257,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. Invictus RG increased its stake in shares of Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock valued at $112,000 after buying an additional 56 shares during the last quarter. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Ingredion during the second quarter valued at $121,000. ClariVest Asset Management LLC acquired a new stake in shares of Ingredion during the second quarter valued at $135,000. Financial Architects Inc increased its stake in shares of Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock valued at $154,000 after buying an additional 893 shares during the last quarter. Finally, Springbok Capital Management LLC increased its stake in shares of Ingredion by 220.0% in the first quarter. Springbok Capital Management LLC now owns 1,600 shares of the company’s stock valued at $171,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.
Ingredion Inc. (NYSE:INGR) traded up 0.27% during mid-day trading on Monday, hitting $120.25. The stock had a trading volume of 336,857 shares. The stock has a market cap of $8.71 billion, a P/E ratio of 17.92 and a beta of 0.78. The firm 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 issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.18. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.45 billion. Ingredion had a return on equity of 21.14% and a net margin of 8.50%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. On average, analysts forecast that Ingredion Inc. will post $7.06 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on INGR shares. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. Credit Suisse Group AG raised their price objective on Ingredion from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Finally, Societe Generale started coverage on Ingredion in a report on Wednesday, September 7th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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).
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