Tyers Asset Management LLC trimmed its holdings in shares of Ingredion Inc (NYSE:INGR) by 10.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 44,576 shares of the company’s stock after selling 4,976 shares during the quarter. Tyers Asset Management LLC’s holdings in Ingredion were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in INGR. Dimensional Fund Advisors LP boosted its holdings in Ingredion by 24.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,355,320 shares of the company’s stock worth $123,876,000 after buying an additional 265,248 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ingredion by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 792,645 shares of the company’s stock worth $72,406,000 after acquiring an additional 28,153 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Ingredion by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 35,242 shares of the company’s stock worth $3,337,000 after acquiring an additional 782 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Ingredion by 27.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 11,704 shares of the company’s stock valued at $1,107,000 after acquiring an additional 2,532 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Ingredion by 7.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 4,310 shares of the company’s stock valued at $408,000 after acquiring an additional 310 shares during the period. 87.85% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on INGR. Zacks Investment Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 6th. Citigroup lowered their price target on Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Credit Suisse Group lowered their price target on Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Ingredion currently has an average rating of “Hold” and an average price target of $102.33.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Ingredion had a net margin of 6.61% and a return on equity of 17.23%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. Analysts anticipate that Ingredion Inc will post 6.68 EPS for the current year.
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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