Ingredion Incorporated $INGR Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its stake in Ingredion by 7.4%, resulting in ownership of 31,610 shares valued at approximately $4.27 million.
• CEO James P. Zallie sold 36,287 shares of the company, decreasing his ownership by 41.99%, while company insiders collectively sold 37,137 shares recently.
• Ingredion is set to increase its quarterly dividend to $0.82 per share, representing an annualized yield of 2.6%, with the ex-dividend date on October 1st.

Advisors Asset Management Inc. reduced its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,610 shares of the company's stock after selling 2,527 shares during the quarter. Advisors Asset Management Inc.'s holdings in Ingredion were worth $4,274,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Ingredion in the first quarter worth approximately $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingredion during the 1st quarter valued at approximately $32,000. Ameriflex Group Inc. purchased a new stake in Ingredion in the 4th quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Ingredion in the first quarter worth about $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INGR. Wall Street Zen downgraded Ingredion from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group upped their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Ingredion has an average rating of "Hold" and a consensus target price of $151.40.

Insider Buying and Selling at Ingredion

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

Ingredion Stock Performance

Shares of NYSE INGR traded up $1.00 during mid-day trading on Thursday, hitting $126.95. The stock had a trading volume of 448,328 shares, compared to its average volume of 406,714. 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 twelve month low of $120.51 and a twelve month high of $155.44. The firm has a market cap of $8.15 billion, a PE ratio of 12.39, a PEG ratio of 1.01 and a beta of 0.77. The company has a 50 day moving average of $130.13 and a two-hundred day moving average of $132.77.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal 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 given a dividend of $0.82 per share. This is an increase from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Ingredion's dividend payout ratio (DPR) is 31.22%.

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.