Ingredion Inc. (INGR) Shares Bought by Great Lakes Advisors LLC
Great Lakes Advisors LLC increased its stake in shares of Ingredion Inc. (NYSE:INGR) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,336 shares of the company’s stock after buying an additional 3,779 shares during the period. Great Lakes Advisors LLC owned about 0.06% of Ingredion worth $5,367,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Global X Management Co. LLC raised its stake in shares of Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Ingredion by 14.4% in the third quarter. NEXT Financial Group Inc now owns 795 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the last quarter. Invictus RG raised its stake in shares of Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock worth $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 worth $121,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Ingredion during the second quarter worth $135,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
Ingredion Inc. (NYSE:INGR) traded down 2.36% during midday trading on Wednesday, reaching $117.38. 688,350 shares of the company were exchanged. Ingredion Inc. has a 52 week low of $84.57 and a 52 week high of $140.00. The company has a 50-day moving average of $127.29 and a 200 day moving average of $128.85. The firm has a market capitalization of $8.50 billion, a PE ratio of 17.49 and a beta of 0.78.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.18. Ingredion had a net margin of 8.50% and a return on equity of 21.14%. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $1.64 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts predict that Ingredion Inc. will post $7.06 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group AG boosted their price objective on shares of Ingredion from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Societe Generale assumed coverage on shares of Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $130.67.
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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