Ingredion Incorporated (INGR) Stake Raised by Cipher Capital LP

Cipher Capital LP grew its stake in Ingredion Incorporated (NYSE:INGR) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,871 shares of the company’s stock after purchasing an additional 421 shares during the quarter. Cipher Capital LP’s holdings in Ingredion were worth $581,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of INGR. WFG Advisors LP raised its stake in Ingredion by 0.4% during the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock worth $165,000 after acquiring an additional 5 shares during the period. HL Financial Services LLC raised its stake in Ingredion by 0.4% during the second quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock worth $325,000 after acquiring an additional 12 shares during the period. IndexIQ Advisors LLC raised its stake in Ingredion by 1.8% during the second quarter. IndexIQ Advisors LLC now owns 1,655 shares of the company’s stock worth $197,000 after acquiring an additional 29 shares during the period. Somerset Trust Co raised its stake in Ingredion by 0.5% during the second quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock worth $753,000 after acquiring an additional 30 shares during the period. Finally, Smithfield Trust Co. raised its stake in Ingredion by 2.1% during the second quarter. Smithfield Trust Co. now owns 1,650 shares of the company’s stock worth $197,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Several equities research analysts recently weighed in on INGR shares. BMO Capital Markets reiterated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Tuesday, May 16th. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, June 14th. BidaskClub upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $141.00.

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Shares of Ingredion Incorporated (NYSE:INGR) opened at 124.23 on Friday. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $137.62. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.60. The company’s 50-day moving average is $123.05 and its 200 day moving average is $120.21.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.53 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Ingredion Incorporated will post $7.61 EPS for the current fiscal year.

In other news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $125.00, for a total transaction of $381,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.92% of the stock is currently owned by insiders.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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