Comerica Bank Has $4.95 Million Stock Position in Ingredion Incorporated $INGR

Key Points

• Comerica Bank reduced its stock position in Ingredion Incorporated by 20.6%, selling 9,471 shares and leaving it with 36,606 shares valued at approximately $4.95 million.
• Ingredion recently declared a quarterly dividend of $0.82 per share, an increase from the previous dividend of $0.80, reflecting a yield of 2.5%.
• The company reported $2.87 EPS for the last quarter, beating estimates, despite a year-over-year revenue decline of 2.4%.

Comerica Bank cut its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,606 shares of the company's stock after selling 9,471 shares during the period. Comerica Bank owned 0.06% of Ingredion worth $4,950,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INGR. Alpine Bank Wealth Management bought a new stake in Ingredion during the first quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingredion during the first quarter worth about $32,000. Ameriflex Group Inc. bought a new position in shares of Ingredion during the fourth quarter worth about $33,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Ingredion by 40.2% in the 1st 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 in the last quarter. Finally, Costello Asset Management INC bought a new position in Ingredion in the 1st quarter valued at about $41,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group increased 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $151.40.

Ingredion Stock Performance

INGR stock traded down $0.82 during midday trading on Wednesday, hitting $127.61. 314,153 shares of the company traded hands, compared to its average volume of 520,697. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The business has a 50 day simple moving average of $131.36 and a 200-day simple moving average of $132.80. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating 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 company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company posted $2.87 earnings per share. The company'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. As a group, equities research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The business 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.6%. This is a boost from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, October 1st. Ingredion's dividend payout ratio is 32.00%.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction 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 approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,137 shares of company stock worth $4,700,163. Corporate insiders own 2.30% of the company's stock.

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.