Fox Run Management L.L.C. Buys New Position in Ingredion Incorporated $INGR

Fox Run Management L.L.C. purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,850 shares of the company’s stock, valued at approximately $1,607,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its position in shares of Ingredion by 28.1% during the second quarter. Metis Global Partners LLC now owns 5,539 shares of the company’s stock worth $751,000 after acquiring an additional 1,214 shares during the last quarter. Savant Capital LLC boosted its stake in Ingredion by 25.1% during the 2nd quarter. Savant Capital LLC now owns 9,382 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,880 shares during the period. J. W. Coons Advisors LLC grew its position in Ingredion by 205.1% during the 2nd quarter. J. W. Coons Advisors LLC now owns 5,852 shares of the company’s stock worth $794,000 after purchasing an additional 3,934 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ingredion by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock valued at $99,822,000 after purchasing an additional 8,681 shares during the period. Finally, State of Michigan Retirement System raised 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 buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays reissued an “equal weight” rating and set a $124.00 price target (down previously from $168.00) on shares of Ingredion in a report on Thursday. Industrial Alliance Securities set a $124.00 target price on Ingredion in a research note on Thursday. Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Oppenheimer set a $136.00 price target on Ingredion in a report on Wednesday, October 22nd. Finally, Weiss Ratings lowered shares of Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Stock Up 2.0%

Ingredion stock opened at $108.53 on Friday. The stock’s 50 day moving average price is $120.81 and its 200 day moving average price is $129.41. Ingredion Incorporated has a 1-year low of $102.31 and a 1-year high of $152.22. The company has a market cap of $6.97 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR) last released its earnings results 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 return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. Ingredion’s dividend payout ratio (DPR) is 32.70%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

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.