Pflug Koory LLC Purchases 365 Shares of Ingredion Incorporated $INGR

Pflug Koory LLC boosted its stake in Ingredion Incorporated (NYSE:INGR) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,239 shares of the company’s stock after purchasing an additional 365 shares during the period. Pflug Koory LLC’s holdings in Ingredion were worth $1,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Ingredion in the 1st quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Ingredion in the 1st quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Ingredion in the 2nd quarter valued at approximately $40,000. Finally, Costello Asset Management INC bought a new position in Ingredion in the 1st quarter valued at approximately $41,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 1.1%

Shares of NYSE INGR opened at $120.91 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. Ingredion Incorporated has a 52-week low of $119.31 and a 52-week high of $155.44. The firm has a 50 day moving average price of $126.13 and a two-hundred day moving average price of $131.76. The stock has a market cap of $7.76 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company posted $2.87 earnings per share. Ingredion’s revenue for the quarter was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, October 1st. Ingredion’s dividend payout ratio is currently 32.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Ingredion in a research note on Saturday, September 27th. UBS Group increased their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.40.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the sale, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the sale, the senior vice president owned 31,171 shares of the company’s stock, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently owned by corporate insiders.

Ingredion 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.