Ingredion Inc (NYSE:INGR) Short Interest Update

Ingredion Inc (NYSE:INGR) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,851,900 shares, a growth of 20.4% from the June 30th total of 3,199,300 shares. Based on an average daily volume of 605,500 shares, the short-interest ratio is presently 6.4 days. Approximately 5.9% of the shares of the company are sold short.

A number of brokerages recently issued reports on INGR. Credit Suisse Group lowered their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Citigroup lowered their price objective on Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. TheStreet cut Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research cut Ingredion from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Ingredion currently has an average rating of “Hold” and a consensus price target of $102.33.

In other Ingredion news, CFO James D. Gray bought 1,000 shares of the stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

A number of institutional investors have recently made changes to their positions in INGR. Dimensional Fund Advisors LP increased its position in shares of Ingredion by 24.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,355,320 shares of the company’s stock valued at $123,876,000 after buying an additional 265,248 shares during the period. Geode Capital Management LLC increased its position in shares of Ingredion by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 792,645 shares of the company’s stock valued at $72,406,000 after buying an additional 28,153 shares during the period. DNB Asset Management AS increased its position in shares of Ingredion by 60.0% during the first quarter. DNB Asset Management AS now owns 18,295 shares of the company’s stock valued at $1,732,000 after buying an additional 6,864 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Ingredion during the first quarter valued at about $1,330,000. Finally, Weybosset Research & Management LLC increased its position in shares of Ingredion by 1.3% during the first quarter. Weybosset Research & Management LLC now owns 68,968 shares of the company’s stock valued at $6,531,000 after buying an additional 855 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Ingredion stock traded up $0.50 during midday trading on Thursday, reaching $75.25. The stock had a trading volume of 15,739 shares, compared to its average volume of 681,943. Ingredion has a 12 month low of $74.69 and a 12 month high of $107.52. The business has a 50-day moving average of $80.07. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 10.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.48 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.06. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the business posted $1.66 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ingredion will post 6.68 earnings per share for the current fiscal year.

Ingredion Company Profile

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

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