Ingredion Incorporated (NYSE:INGR) Short Interest Update

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

Ingredion Stock Up 0.6 %

Shares of NYSE:INGR traded up $0.85 on Monday, reaching $148.19. The company had a trading volume of 408,996 shares, compared to its average volume of 387,426. The firm has a market capitalization of $9.66 billion, a PE ratio of 14.48, a PEG ratio of 1.26 and a beta of 0.73. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion has a 52-week low of $104.52 and a 52-week high of $155.44. The firm’s 50 day simple moving average is $139.58 and its 200-day simple moving average is $128.64.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INGR. 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 note on Wednesday, November 6th. Barclays upped their target price 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. UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer raised their price objective on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.17.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,197 shares of company stock valued at $9,702,315 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ingredion during the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion in the 2nd quarter worth $33,000. Family Firm Inc. purchased a new stake in Ingredion during the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion in the second quarter worth about $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.