Amundi Lowers Stake in Ingredion Incorporated $INGR

Key Points

• Amundi has reduced its stake in Ingredion Incorporated by 9.1%, now holding approximately 0.26% of the company's shares.
• Ingredion's recent earnings report showed an EPS of $2.87, exceeding analysts' expectations, but revenue fell short, totaling $1.83 billion
• The company has announced an increase in its quarterly dividend to $0.82, reflecting a commitment to return value to shareholders.

Amundi reduced its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,766 shares of the company's stock after selling 16,492 shares during the quarter. Amundi owned about 0.26% of Ingredion worth $22,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion during the 1st quarter worth approximately $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ingredion during the 1st quarter worth approximately $32,000. Ameriflex Group Inc. purchased a new stake in shares of Ingredion during the 4th quarter worth approximately $33,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Ingredion during the 1st quarter worth approximately $41,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INGR. UBS Group upped their price objective on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $151.40.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 50,129 shares of the company's stock, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares of the company's stock, 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 37,137 shares of company stock valued at $4,700,163 over the last ninety days. 2.30% of the stock is owned by insiders.

Ingredion Trading Down 0.5%

NYSE INGR traded down $0.63 on Friday, hitting $126.25. 330,125 shares of the stock were exchanged, compared to its average volume of 412,883. 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 has a fifty day moving average price of $129.91 and a two-hundred day moving average price of $132.74. The firm has a market capitalization of $8.10 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.02 and a beta of 0.77. Ingredion Incorporated has a 52-week low of $120.51 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a yield of 2.6%. Ingredion's payout ratio is presently 31.22%.

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.