Ingredion (NYSE:INGR) Hits New 1-Year Low at $80.16

Ingredion Incorporated (NYSE:INGRGet Rating) reached a new 52-week low on Friday . The stock traded as low as $80.16 and last traded at $80.29, with a volume of 663 shares trading hands. The stock had previously closed at $82.19.

Ingredion Trading Down 2.2 %

The company has a fifty day simple moving average of $88.55 and a two-hundred day simple moving average of $88.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 0.96. The company has a market capitalization of $5.26 billion, a P/E ratio of 11.91 and a beta of 0.76.

Ingredion (NYSE:INGRGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.18. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.92 billion. Ingredion had a return on equity of 14.53% and a net margin of 6.13%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. On average, analysts forecast that Ingredion Incorporated will post 7.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingredion

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Ingredion by 943.1% during the second quarter. Millennium Management LLC now owns 628,246 shares of the company’s stock valued at $55,386,000 after acquiring an additional 568,015 shares during the period. Leeward Investments LLC MA acquired a new stake in Ingredion during the first quarter valued at approximately $42,784,000. Verity Asset Management Inc. acquired a new stake in Ingredion during the first quarter valued at approximately $132,000. Arrowstreet Capital Limited Partnership boosted its holdings in Ingredion by 4,100.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock valued at $29,704,000 after purchasing an additional 332,719 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in Ingredion by 181.2% during the first quarter. Jupiter Asset Management Ltd. now owns 411,000 shares of the company’s stock valued at $35,818,000 after purchasing an additional 264,860 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors.

About Ingredion

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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

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