Ingredion Incorporated $INGR Shares Purchased by Ethic Inc.

Ethic Inc. boosted its position in Ingredion Incorporated (NYSE:INGR) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,054 shares of the company’s stock after buying an additional 665 shares during the quarter. Ethic Inc.’s holdings in Ingredion were worth $2,453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INGR. Allianz Asset Management GmbH lifted its holdings in Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock worth $162,840,000 after buying an additional 361,584 shares in the last quarter. Millennium Management LLC increased its position in shares of Ingredion by 1,093.5% in the 1st quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock worth $49,445,000 after purchasing an additional 335,052 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Ingredion by 66.3% in the 2nd quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock worth $97,531,000 after purchasing an additional 288,201 shares during the last quarter. Northern Trust Corp increased its position in shares of Ingredion by 37.0% in the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock worth $132,883,000 after purchasing an additional 265,263 shares during the last quarter. Finally, Boston Partners increased its position in shares of Ingredion by 333.9% in the 1st quarter. Boston Partners now owns 273,851 shares of the company’s stock worth $36,868,000 after purchasing an additional 210,737 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,137 shares of company stock valued at $4,700,163. Insiders own 2.30% of the company’s stock.

Ingredion Price Performance

Shares of NYSE:INGR opened at $118.16 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a fifty-two week low of $118.03 and a fifty-two week high of $155.44. The firm has a 50-day simple moving average of $123.87 and a 200 day simple moving average of $130.50. The company has a market cap of $7.58 billion, a PE ratio of 11.53, a P/E/G ratio of 0.98 and a beta of 0.74.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The company’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. On average, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s payout ratio is currently 32.00%.

Wall Street Analyst Weigh In

INGR has been the subject of several research analyst reports. Oppenheimer set a $136.00 target price on shares of Ingredion in a research report on Wednesday. Wall Street Zen raised shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Zacks Research downgraded shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Ingredion in a research report on Wednesday, October 8th. Finally, UBS Group dropped their target price on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $143.40.

About Ingredion

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.