Ingredion (INGR) Reaches $132.93 52-Week High; State Treasurer State Of Michigan Has Increased Its Microchip Technology (MCHP) Stake

November 15, 2017 - By Clifton Ray

State Treasurer State Of Michigan increased Microchip Technology Inc (MCHP) stake by 6.05% reported in 2017Q2 SEC filing. State Treasurer State Of Michigan acquired 4,300 shares as Microchip Technology Inc (MCHP)’s stock rose 11.86%. The State Treasurer State Of Michigan holds 75,372 shares with $5.82M value, up from 71,072 last quarter. Microchip Technology Inc now has $20.85B valuation. The stock declined 1.54% or $1.4 reaching $89.61 on the news. About 175,585 shares traded. Microchip Technology Inc. (NASDAQ:MCHP) has risen 68.30% since November 15, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

The stock of Ingredion Inc (NYSE:INGR) hit a new 52-week high and has $136.92 target or 3.00% above today’s $132.93 share price. The 8 months bullish chart indicates low risk for the $9.53 billion company. The 1-year high was reported on Nov, 15 by Barchart.com. If the $136.92 price target is reached, the company will be worth $285.90 million more. About 106,477 shares traded. Ingredion Inc (NYSE:INGR) has declined 2.30% since November 15, 2016 and is downtrending. It has underperformed by 19.00% the S&P500.

Investors sentiment increased to 0.95 in 2017 Q2. Its up 0.06, from 0.89 in 2017Q1. It is positive, as 32 investors sold Ingredion Inc shares while 161 reduced holdings. 42 funds opened positions while 142 raised stakes. 59.36 million shares or 0.37% less from 59.58 million shares in 2017Q1 were reported. Invesco Limited reported 276,990 shares. 250 are owned by Dubuque Natl Bank. Ohio-based Meeder Asset Mgmt has invested 0.02% in Ingredion Inc (NYSE:INGR). Grace & White Inc Ny, New York-based fund reported 57,220 shares. 414,111 are owned by Schwab Charles. Toronto Dominion Commercial Bank owns 952 shares. Parallax Volatility Advisers L P has invested 0% in Ingredion Inc (NYSE:INGR). Brown Advisory Incorporated has invested 0% in Ingredion Inc (NYSE:INGR). Raymond James & Assoc invested in 85,195 shares. New England Research Management, Illinois-based fund reported 3,650 shares. Advsrs Asset reported 17,255 shares. Sterling Capital Management Ltd Liability Corporation, a North Carolina-based fund reported 17,343 shares. Tobam has invested 0.04% in Ingredion Inc (NYSE:INGR). New York-based Paradigm Asset Mgmt Com Llc has invested 0% in Ingredion Inc (NYSE:INGR). State Of Alaska Department Of Revenue stated it has 0.02% in Ingredion Inc (NYSE:INGR).

Among 7 analysts covering Ingredion Inc (NYSE:INGR), 4 have Buy rating, 1 Sell and 2 Hold. Therefore 57% are positive. Ingredion Inc has $14500 highest and $84 lowest target. $127.80’s average target is -3.86% below currents $132.93 stock price. Ingredion Inc had 21 analyst reports since August 3, 2015 according to SRatingsIntel. BMO Capital Markets maintained the shares of INGR in report on Monday, June 26 with “Hold” rating. Jefferies maintained it with “Buy” rating and $14500 target in Thursday, June 29 report. Citigroup maintained Ingredion Inc (NYSE:INGR) on Wednesday, June 15 with “Buy” rating. The stock has “Buy” rating by Credit Suisse on Thursday, November 2. The rating was upgraded by Citigroup on Monday, September 14 to “Buy”. Stephens upgraded the stock to “Overweight” rating in Friday, January 29 report. The firm has “Market Perform” rating given on Friday, October 30 by BMO Capital Markets. The firm earned “Buy” rating on Friday, October 27 by Jefferies. Jefferies maintained Ingredion Inc (NYSE:INGR) on Friday, May 26 with “Buy” rating. The stock of Ingredion Inc (NYSE:INGR) earned “Overweight” rating by Stephens on Wednesday, November 15.

Analysts await Ingredion Inc (NYSE:INGR) to report earnings on February, 1. They expect $1.74 earnings per share, up 4.19% or $0.07 from last year’s $1.67 per share. INGR’s profit will be $124.74 million for 19.10 P/E if the $1.74 EPS becomes a reality. After $2.21 actual earnings per share reported by Ingredion Inc for the previous quarter, Wall Street now forecasts -21.27% negative EPS growth.

Ingredion Incorporated is an ingredients solutions provider. The company has market cap of $9.53 billion. The Firm makes and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch materials to a range of industries, both domestically and internationally. It has a 19.03 P/E ratio. It operates through four divisions: North America, South America, Asia Pacific, and Europe, Middle East and Africa .

Investors sentiment decreased to 1 in Q2 2017. Its down 0.11, from 1.11 in 2017Q1. It worsened, as 38 investors sold MCHP shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported. Segall Bryant Hamill Ltd Liability Com accumulated 515,324 shares or 0.94% of the stock. Us Retail Bank De invested 0.09% in Microchip Technology Inc. (NASDAQ:MCHP). 34,578 are held by Papp L Roy &. Citadel Advisors holds 12,015 shares or 0% of its portfolio. Lyons Wealth Limited Liability, Florida-based fund reported 4,201 shares. Coho Partners invested in 1.68M shares or 3.24% of the stock. Loring Wolcott & Coolidge Fiduciary Advisors Llp Ma invested in 0.02% or 13,750 shares. One Association accumulated 0.34% or 61,170 shares. Impact Advisors Limited Liability Com holds 28,840 shares or 1.01% of its portfolio. Nationwide Fund Advisors holds 184,472 shares. Regions Finance accumulated 41,619 shares. Riverpoint Limited Com has invested 1.76% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Decatur Mgmt stated it has 2% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). 1832 Asset Mngmt Lp holds 184 shares. Friess Ltd accumulated 28,300 shares.

Since May 22, 2017, it had 0 insider buys, and 4 sales for $990,698 activity. Shares for $226,739 were sold by SIMONCIC RICHARD J. LITTLE MITCHELL R sold $243,359 worth of stock or 3,031 shares. Shares for $319,072 were sold by DREHOBL STEPHEN V. 2,510 Microchip Technology Inc. (NASDAQ:MCHP) shares with value of $201,528 were sold by Bjornholt James Eric.

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By1 Clifton Ray




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