The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ingredion Incorporated shares valued at $167,441 were sold by Bastos-Evans Valdirene on Jun 17. At $85.52 per share, Bastos-Evans Valdirene sold 1,958 shares. The insider’s holdings dropped to 7,375 shares worth approximately $0.63 million following the completion of this transaction.
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Also, Gray James D sold 0 shares, netting a total of over 37 in proceeds. Following the sale of shares at $83.56 each, the insider now holds 26,756 shares.
Before that, Xu Jinghuai had sold 0 shares from its account. In a trade valued at $6, the SVP, Chief Innovation Officer traded Ingredion Incorporated shares for $83.56 each. Upon closing the transaction, the insider’s holdings decreased to 0 shares, worth approximately $1.36 million.
As published in a research note from Credit Suisse on April 12, 2022, Ingredion Incorporated [INGR] has been rated down from an Outperform to a Neutral and the price target has been revised to $94 from $102. This represents a 9.81% premium over Wednesday’s closing price. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early November. As of November 03, 2021, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for INGR. Earlier on November 03, 2021, BMO Capital Markets upgraded its rating. Their new recommendation was “an Outperform” for INGR stock which previously was a “a Market perform”.
Analyzing INGR’s Price Performance
On Wednesday, Ingredion Incorporated [NYSE: INGR] plunged -1.44% to $84.78. The stock’s lowest price that day was $84.10, but it reached a high of $85.48 in the same session. During the last five days, there has been a drop of approximately -2.41%. Over the course of the year, Ingredion Incorporated shares have dropped approximately -12.27%. Shares of the company reached a 52-week high of $101.89 on 01/20/22 and a 52-week low of $81.25 on 03/08/22. A 50-day SMA is recorded $89.69, while a 200-day SMA reached $91.87. Nevertheless, trading volume fell to 0.27 million shares from 0.45 million shares the previous day.
Support And Resistance Levels for Ingredion Incorporated (INGR)
According to the 24-hour chart, there is a support level at 84.09, which, if violated, would cause prices to drop to 83.41. In the upper region, resistance lies at 85.47. The next price resistance is at 86.17. RSI (Relative Strength Index) is 35.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.04, which suggests the price will decrease in the coming days. Percent R is at 94.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Ingredion Incorporated (INGR)?
According to The Vanguard Group, Inc. filings, the company currently owns 6,807,443 shares, which is about 10.28% of the total INGR shares outstanding. The investor’s shares have appreciated by 49,933 from its previous 13-F filing of 6757510.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $495,357,478. LSV Asset Management acquire a 0.96% interest valued at $255.03 million while Yacktman Asset Management LP sold a -247,878 stake. A total of 155,995 shares of Ingredion Incorporated were sold by SSgA Funds Management, Inc. during the quarter, and 63,771 were bought by Dimensional Fund Advisors LP. In its current portfolio, Fidelity Management & Research Co holds 1,559,195 shares valued at $147.64 million.
In terms of Ingredion Incorporated share price expectations, FactSet research, analysts set an average price target of $98.60 in the next 12 months, up nearly 9.28% from the previous closing price of $86.02. Analysts anticipate Ingredion Incorporated stock to reach $112.00 by 2022, with the lowest price target being $90.00. In spite of this, 7 analysts ranked Ingredion Incorporated stock as an Overweight at the end of 2022. On May 05, 2021, Stephens assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $100.