Canada Pension Plan Investment Board Takes $2.91 Million Position in Ingredion Incorporated $INGR

Key Points

• The Canada Pension Plan Investment Board made a new investment in Ingredion Incorporated, acquiring 21,500 shares valued at approximately $2.91 million.
• Ingredion recently increased its quarterly dividend to $0.82 per share, yielding 2.6%, with the ex-dividend date set for October 1st.
• Last quarter, Ingredion reported an earnings per share (EPS) of $2.87, surpassing analysts' expectations of $2.78, but experienced a revenue decline of 2.4% year-over-year.

Canada Pension Plan Investment Board acquired a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,500 shares of the company's stock, valued at approximately $2,907,000.

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

Analyst Ratings Changes

INGR has been the subject of a number of research analyst reports. UBS Group upped their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen cut Ingredion from a "buy" rating to a "hold" rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Price Performance

INGR traded down $0.93 during trading on Monday, reaching $127.48. 217,327 shares of the company were exchanged, compared to its average volume of 518,881. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.03 and a beta of 0.77. The company's 50-day moving average is $130.93 and its two-hundred day moving average is $132.88. 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 12-month low of $120.51 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted 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 firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The company's revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business 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 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on Tuesday, August 12th. The stock was 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 owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the firm's 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 sale, the senior vice president directly owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. 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 three months. Corporate insiders own 1.80% of the company's stock.

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.