State Treasurer State of Michigan increased its stake in Ingredion Inc. (NYSE:INGR) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,100 shares of the company’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Ingredion were worth $3,872,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its stake in Ingredion by 0.5% in the third quarter. DAVENPORT & Co LLC now owns 2,654 shares of the company’s stock valued at $353,000 after buying an additional 14 shares during the last quarter. Advisor Partners LLC increased its stake in Ingredion by 1.5% in the second quarter. Advisor Partners LLC now owns 1,914 shares of the company’s stock valued at $248,000 after buying an additional 28 shares during the last quarter. Citizens Financial Group Inc RI increased its stake in Ingredion by 1.8% in the second quarter. Citizens Financial Group Inc RI now owns 1,572 shares of the company’s stock valued at $204,000 after buying an additional 28 shares during the last quarter. Capital City Trust Co. FL increased its stake in Ingredion by 1.6% in the second quarter. Capital City Trust Co. FL now owns 2,031 shares of the company’s stock valued at $263,000 after buying an additional 31 shares during the last quarter. Finally, Invictus RG increased its stake in 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. 85.25% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

Ingredion Inc. (NYSE:INGR) traded down 0.30% on Monday, hitting $119.57. The stock had a trading volume of 707,749 shares. The stock has a market cap of $8.66 billion, a P/E ratio of 17.81 and a beta of 0.78. The company’s 50 day moving average is $127.67 and its 200-day moving average is $128.72. Ingredion Inc. has a 12 month low of $84.57 and a 12 month high of $140.00.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.18. Ingredion had a return on equity of 21.14% and a net margin of 8.50%. The company earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Analysts forecast that Ingredion Inc. will post $7.06 EPS for the current year.

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INGR has been the subject of several research analyst reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a report on Saturday, November 5th. Societe Generale began coverage on Ingredion in a research note on Wednesday, September 7th. They set a “hold” rating for the company. Finally, Credit Suisse Group AG boosted their price target on Ingredion from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Ingredion has an average rating of “Hold” and an average target price of $130.67.

About Ingredion

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).

5 Day Chart for NYSE:INGR

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