Cresset Asset Management LLC Buys 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 holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,808 shares of the company's stock after buying an additional 6,432 shares during the period. Cresset Asset Management LLC owned approximately 0.18% of Ingredion worth $15,523,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Ingredion in the 1st quarter worth $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingredion in the 1st quarter worth $32,000. Ameriflex Group Inc. bought a new position in shares of Ingredion in the 4th quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ingredion by 40.2% in the 1st 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 bought a new position in shares of Ingredion in the 1st quarter worth $41,000. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value 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. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

INGR has been the topic of a number of recent research reports. UBS Group increased their target price 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 cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Ingredion presently has an average rating of "Hold" and a consensus target price of $151.40.

Ingredion Stock Up 1.7%

Shares of INGR stock traded up $2.14 on Friday, hitting $129.78. The stock had a trading volume of 92,455 shares, compared to its average volume of 521,855. The business has a 50 day moving average of $132.76 and a 200 day moving average of $132.69. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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. 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 analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $2.87 EPS. The firm'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, analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

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.