American Century Companies Inc. Increases Stock Position in Ingredion Incorporated $INGR

Key Points

• American Century Companies Inc. increased its stake in Ingredion Incorporated by 53.0%, owning 248,333 shares worth approximately $33.58 million.
• Ingredion reported a quarterly earnings result of $2.87 earnings per share, exceeding analysts' expectations, though revenue fell short at $1.83 billion, down 2.4% year-over-year.
• Recent analyst ratings show a downgrade from "strong-buy" to "buy" by Wall Street Zen, with a consensus rating of "Hold" and an average target price of $151.40.

American Century Companies Inc. raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 53.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,333 shares of the company's stock after purchasing an additional 86,055 shares during the quarter. American Century Companies Inc. owned 0.39% of Ingredion worth $33,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in INGR. Alpine Bank Wealth Management acquired a new stake in shares of Ingredion during the 1st quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion during the 1st quarter valued at approximately $32,000. Ameriflex Group Inc. acquired a new stake in shares of Ingredion during the 4th quarter valued at approximately $33,000. Migdal Insurance & Financial Holdings Ltd. lifted 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 during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Ingredion during the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Price Performance

Shares of Ingredion stock traded up $1.28 during trading on Wednesday, hitting $129.35. 515,102 shares of the company were exchanged, compared to its average volume of 457,241. 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 $120.51 and a fifty-two week high of $155.44. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.03 and a beta of 0.71. The firm has a 50 day moving average price of $132.05 and a 200 day moving average price of $132.73.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm posted $2.87 EPS. The company's quarterly revenue 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, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be issued a $0.82 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a yield of 2.5%. Ingredion's payout ratio is 31.22%.

Wall Street Analyst Weigh In

INGR has been the subject of a number of research reports. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $151.40.

Insider Buying and Selling at Ingredion

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

Ingredion 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.