Invesco Ltd. Raises Position in Ingredion Incorporated $INGR

Invesco Ltd. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 876,174 shares of the company’s stock after acquiring an additional 22,245 shares during the period. Invesco Ltd.’s holdings in Ingredion were worth $118,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Ingredion during the second quarter valued at approximately $82,779,000. Millennium Management LLC boosted its holdings in shares of Ingredion by 1,093.5% in the 1st quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock worth $49,445,000 after purchasing an additional 335,052 shares in the last quarter. Nordea Investment Management AB lifted its position in Ingredion by 66.3% in the 2nd quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock worth $97,531,000 after buying an additional 288,201 shares during the last quarter. Northern Trust Corp grew its position in Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after acquiring an additional 265,263 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Ingredion by 333.9% during the first quarter. Boston Partners now owns 273,851 shares of the company’s stock worth $36,868,000 after acquiring an additional 210,737 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stephens dropped their price objective on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. UBS Group reduced their target price on Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Zacks Research cut shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Oppenheimer set a $136.00 price objective on shares of Ingredion in a report on Wednesday, October 22nd. Finally, Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $124.33.

Ingredion Price Performance

INGR opened at $106.34 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.79 and a current ratio of 2.75. The company’s 50-day simple moving average is $113.17 and its two-hundred day simple moving average is $125.03. Ingredion Incorporated has a 52-week low of $102.31 and a 52-week high of $146.50. The stock has a market capitalization of $6.76 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.87 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.02. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion 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.