Edgestream Partners L.P. Purchases Shares of 24,283 Ingredion Incorporated $INGR

Edgestream Partners L.P. acquired a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,283 shares of the company’s stock, valued at approximately $3,293,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthspire Advisors LLC lifted its position in Ingredion by 5.8% in the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock valued at $228,000 after acquiring an additional 92 shares in the last quarter. Amalgamated Bank raised its stake in shares of Ingredion by 0.3% in the 2nd quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock valued at $4,094,000 after purchasing an additional 93 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Ingredion by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock valued at $2,100,000 after purchasing an additional 100 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock worth $47,000 after buying an additional 101 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Ingredion by 3.7% during the second quarter. ProShare Advisors LLC now owns 2,851 shares of the company’s stock worth $387,000 after buying an additional 103 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INGR has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Ingredion in a research note on Monday. Zacks Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. BMO Capital Markets reduced their target price on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Oppenheimer set a $136.00 price target on shares of Ingredion in a research note on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ingredion presently has an average rating of “Hold” and an average target price of $124.33.

Ingredion Price Performance

Shares of INGR opened at $108.76 on Thursday. The company has a current ratio of 2.75, a quick ratio of 1.79 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $114.29 and its 200 day simple moving average is $126.01. Ingredion Incorporated has a 1-year low of $102.31 and a 1-year high of $149.84. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.88 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.90 billion. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, research analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

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.