Stanley Laman Group Ltd. Makes New Investment in Ingredion Inc (NYSE:INGR)

Stanley Laman Group Ltd. purchased a new position in shares of Ingredion Inc (NYSE:INGR) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,754 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prime Capital Investment Advisors LLC bought a new position in Ingredion during the first quarter worth about $28,000. Harvest Group Wealth Management LLC bought a new position in shares of Ingredion in the first quarter valued at approximately $36,000. Advisory Services Network LLC raised its stake in shares of Ingredion by 65.4% in the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Private Capital Group LLC raised its stake in shares of Ingredion by 114.1% in the first quarter. Private Capital Group LLC now owns 546 shares of the company’s stock valued at $52,000 after acquiring an additional 291 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Ingredion in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Shares of NYSE:INGR traded down $0.29 during trading on Thursday, reaching $74.46. The stock had a trading volume of 3,590 shares, compared to its average volume of 681,943. Ingredion Inc has a 52 week low of $74.69 and a 52 week high of $107.52. The firm has a 50-day simple moving average of $80.07. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.48 and a quick ratio of 1.51. The company has a market cap of $5.06 billion, a PE ratio of 10.76 and a beta of 0.85.

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

In related news, CFO James D. Gray acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $78.37 per share, for a total transaction of $78,370.00. Following the transaction, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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

Ingredion 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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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