Ingredion Incorporated $INGR Stock Holdings Lessened by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in Ingredion by 3.4%, selling 2,480 shares during the first quarter, resulting in ownership of 71,250 shares valued at approximately $9.63 million.
• Several institutional investors, including Caisse DE Depot ET Placement DU Quebec and Deutsche Bank AG, significantly increased their stakes in Ingredion, highlighting strong institutional interest in the company.
• Ingredion has recently increased its quarterly dividend from $0.80 to $0.82 per share, reflecting a positive change and a dividend yield of 2.5%.

Corebridge Financial Inc. trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,250 shares of the company's stock after selling 2,480 shares during the period. Corebridge Financial Inc. owned 0.11% of Ingredion worth $9,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of INGR. Price T Rowe Associates Inc. MD raised its holdings in shares of Ingredion by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 96,211 shares of the company's stock worth $13,236,000 after purchasing an additional 4,195 shares during the period. Capital Analysts LLC increased its holdings in shares of Ingredion by 90.0% in the 4th quarter. Capital Analysts LLC now owns 475 shares of the company's stock worth $65,000 after acquiring an additional 225 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ingredion in the 4th quarter worth about $788,000. Quarry LP acquired a new stake in shares of Ingredion in the 4th quarter worth about $61,000. Finally, Northern Trust Corp increased its holdings in shares of Ingredion by 22.6% in the 4th quarter. Northern Trust Corp now owns 717,526 shares of the company's stock worth $98,703,000 after acquiring an additional 132,151 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Up 0.4%

Shares of INGR traded up $0.49 during midday trading on Friday, hitting $129.54. The stock had a trading volume of 439,732 shares, compared to its average volume of 450,213. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The business has a 50-day simple moving average of $131.74 and a two-hundred day simple moving average of $132.77. The firm has a market cap of $8.31 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.04 and a beta of 0.71. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the company posted $2.87 earnings per share. The business's revenue for the quarter was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced 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. The ex-dividend date 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 dividend yield of 2.5%. Ingredion's dividend payout ratio is 31.22%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction dated 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 directly owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief executive officer directly owned 50,129 shares of the company's stock, 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. 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.