Acadian Asset Management LLC Decreases Stock Holdings in Ingredion Incorporated $INGR

Key Points

• Acadian Asset Management LLC sold 166,067 shares of Ingredion, reducing its holdings by 27.5%, now owning 438,876 shares valued at approximately $59 million.
• CEO James P. Zallie sold 36,287 shares for over $4.5 million, decreasing his ownership by nearly 42%, while other executives also sold shares during the same period.
• Ingredion announced a quarterly dividend increase from $0.80 to $0.82 per share, with a dividend yield of 2.6%, reflecting a positive change for investors.

Acadian Asset Management LLC decreased its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 27.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 438,876 shares of the company's stock after selling 166,067 shares during the period. Acadian Asset Management LLC owned about 0.68% of Ingredion worth $59,329,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Waverly Advisors LLC increased its position in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock worth $317,000 after acquiring an additional 84 shares during the period. Retirement Guys Formula LLC grew its holdings in shares of Ingredion by 5.7% during the 1st quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after purchasing an additional 84 shares during the last quarter. Wealthspire Advisors LLC raised its position in shares of Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock worth $228,000 after acquiring an additional 92 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of Ingredion by 41.2% during the 1st quarter. Bell Investment Advisors Inc now owns 346 shares of the company's stock valued at $47,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity at Ingredion

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

Ingredion Trading Down 0.5%

Ingredion stock traded down $0.63 during midday trading on Friday, reaching $126.25. The stock had a trading volume of 330,125 shares, compared to its average volume of 412,883. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44. The stock has a market capitalization of $8.10 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The stock's 50-day simple moving average is $129.91 and its 200 day simple moving average is $132.74.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $2.87 earnings per share. The firm'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. Analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid a $0.82 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a yield of 2.6%. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Analysts Set New Price Targets

INGR has been the topic of several research reports. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $151.40.

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.