Ingredion Incorporated (NYSE:INGR) Short Interest Update

Ingredion Incorporated (NYSE:INGR) was the recipient of 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. Based on an average daily trading volume, of 394,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.9% of the company’s stock are sold short.

Insider Transactions at Ingredion

In other news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,197 shares of company stock worth $9,702,315. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion during the second quarter valued at approximately $33,000. Family Firm Inc. purchased a new position in Ingredion during the 2nd quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in Ingredion in the 2nd quarter worth approximately $36,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INGR has been the topic of a number of research reports. UBS Group raised their price target on 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 Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer increased their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Price Performance

Shares of INGR traded up $0.85 during trading hours on Monday, reaching $148.19. 408,996 shares of the stock traded hands, compared to its average volume of 387,426. Ingredion has a 52-week low of $104.52 and a 52-week high of $155.44. 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 $9.66 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The company’s 50-day moving average price is $139.58 and its two-hundred day moving average price is $128.64.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. On average, analysts anticipate that Ingredion will post 10.6 earnings per share for the current year.

About Ingredion

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.