553,394 Shares in Ingredion Incorporated $INGR Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 553,394 Ingredion shares worth approximately $52.4 million, representing about 0.88% of the company. Institutional investors collectively own 85.27% of Ingredion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from nine analysts and an average price target of $121.29; recent updates included downgraded or neutral ratings from Barclays, Oppenheimer and UBS.
• Ingredion reported quarterly EPS of $2.82, beating estimates of $2.71, while revenue reached $1.85 billion. The stock opened at $103.63, compared with a 12-month range of $94.44 to $130.48.

Bank of New York Mellon Corp acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 553,394 shares of the company's stock, valued at approximately $52,412,000. Bank of New York Mellon Corp owned approximately 0.88% of Ingredion at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Amundi grew its position in shares of Ingredion by 19.4% during the 1st quarter. Amundi now owns 142,282 shares of the company's stock valued at $16,029,000 after buying an additional 23,122 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Ingredion by 22,036.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,037,106 shares of the company's stock worth $114,351,000 after acquiring an additional 1,032,421 shares during the last quarter. Cooke & Bieler LP boosted its stake in Ingredion by 33.6% in the fourth quarter. Cooke & Bieler LP now owns 1,207,153 shares of the company's stock valued at $133,101,000 after acquiring an additional 303,807 shares during the period. ING Groep NV acquired a new position in Ingredion in the fourth quarter valued at approximately $6,825,000. Finally, Norges Bank bought a new position in shares of Ingredion during the fourth quarter valued at approximately $85,310,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of research reports. Barclays dropped their price objective on Ingredion from $120.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 5th. Oppenheimer cut Ingredion from an "outperform" rating to a "market perform" rating in a research note on Monday, June 8th. Zacks Research raised Ingredion from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. UBS Group upped their price target on shares of Ingredion from $104.00 to $108.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Benchmark reaffirmed a "buy" rating on shares of Ingredion in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $121.29.

Insider Buying and Selling at Ingredion

In other news, Director David B. Fischer sold 1,662 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $102.31, for a total transaction of $170,039.22. Following the sale, the director directly owned 19,930 shares in the company, valued at approximately $2,039,038.30. The trade was a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Ingredion Stock Performance

INGR stock opened at $103.63 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.80 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.90 and a beta of 0.62. Ingredion Incorporated has a 12 month low of $94.44 and a 12 month high of $130.48. The firm has a 50 day moving average of $101.25 and a two-hundred day moving average of $106.83.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.11. The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.83 billion. Ingredion had a return on equity of 15.40% and a net margin of 8.21%.The company's revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 earnings per share. Ingredion has set its FY 2026 guidance at 10.300-10.900 EPS. As a group, equities analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

About Ingredion

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company's product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.

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