Cresset Asset Management LLC Acquires 6,432 Shares of Ingredion Incorporated $INGR

Key Points

• Cresset Asset Management LLC has increased its holdings in Ingredion Incorporated by 5.9%, acquiring an additional 6,432 shares, bringing its total ownership to 114,808 shares valued at approximately $15.5 million.
• Ingredion reported $2.87 EPS for the last quarter, exceeding analysts' expectations, though its revenue of $1.83 billion fell short of the consensus estimate.
• The company announced a quarterly dividend of $0.80 per share, yielding 2.5%, with a payout ratio of 31.22%.

Cresset Asset Management LLC grew its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,808 shares of the company's stock after buying an additional 6,432 shares during the quarter. Cresset Asset Management LLC owned 0.18% of Ingredion worth $15,523,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in Ingredion by 327.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after buying an additional 407,027 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after buying an additional 361,584 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Ingredion by 536.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock valued at $49,680,000 after buying an additional 304,421 shares during the period. Boston Partners increased its holdings in Ingredion by 333.9% during the 1st quarter. Boston Partners now owns 273,851 shares of the company's stock worth $36,868,000 after purchasing an additional 210,737 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Ingredion by 766.7% during the 1st quarter. Deutsche Bank AG now owns 230,317 shares of the company's stock worth $31,141,000 after purchasing an additional 203,742 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity

In related news, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the business'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 value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock worth $4,700,163 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Ingredion Price Performance

INGR stock traded up $0.8280 during midday trading on Thursday, reaching $127.5780. 550,770 shares of the company's stock traded hands, compared to its average volume of 524,590. The company has a 50-day simple moving average of $133.00 and a two-hundred day simple moving average of $132.73. Ingredion Incorporated has a 1-year low of $120.51 and a 1-year high of $155.44. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.01 and a beta of 0.71. 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 (NYSE:INGR - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $2.87 EPS. 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. On average, analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group boosted their target price on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $151.40.

Ingredion Company 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.