Ingredion Incorporated (NYSE:INGR) Short Interest Update

Ingredion Incorporated (NYSE:INGR) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 558,900 shares, a decrease of 7.7% from the October 31st total of 605,400 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 394,000 shares, the days-to-cover ratio is currently 1.4 days.

Ingredion Stock Up 0.7 %

Shares of INGR stock traded up $1.02 during trading hours on Tuesday, reaching $149.13. 489,611 shares of the company’s stock were exchanged, compared to its average volume of 553,342. Ingredion has a fifty-two week low of $104.52 and a fifty-two week high of $155.44. The stock’s 50 day moving average is $140.11 and its 200-day moving average is $129.05. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.27 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $2.33 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts predict that Ingredion will post 10.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on INGR shares. UBS Group raised their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays increased their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,197 shares of company stock valued at $9,702,315 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Ingredion

Several large investors have recently made changes to their positions in INGR. Franklin Resources Inc. increased its holdings in shares of Ingredion by 75.7% during the 3rd quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock valued at $26,109,000 after purchasing an additional 83,708 shares in the last quarter. Tidal Investments LLC increased its holdings in Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock valued at $2,720,000 after buying an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Ingredion in the third quarter worth about $149,000. Fulcrum Equity Management boosted its stake in shares of Ingredion by 18.2% during the 3rd quarter. Fulcrum Equity Management now owns 4,033 shares of the company’s stock worth $554,000 after acquiring an additional 620 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in shares of Ingredion by 33.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,128 shares of the company’s stock valued at $292,000 after acquiring an additional 534 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.