CX Institutional Has $4.65 Million Stock Holdings in Ingredion Incorporated $INGR

Key Points

• CX Institutional increased its stake in Ingredion Incorporated by 45.9% during the second quarter, holding approximately 34,289 shares worth $4.65 million.
• CEO James P. Zallie sold 36,287 shares for approximately $4.59 million, reducing his ownership by 41.99%.
• Ingredion recently raised its quarterly dividend from $0.80 to $0.82, demonstrating a commitment to shareholder returns with an annualized yield of 2.7%.

CX Institutional grew its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 45.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,289 shares of the company's stock after purchasing an additional 10,785 shares during the period. CX Institutional owned about 0.05% of Ingredion worth $4,650,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Ingredion in the 1st quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Ingredion in the first quarter worth about $32,000. Ameriflex Group Inc. purchased a new position in shares of Ingredion in the 4th quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Ingredion by 40.2% during 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 bought a new stake in shares of Ingredion in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the 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 sale, the senior vice president directly owned 31,171 shares of the company's stock, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction on 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 owned 50,129 shares of the company's stock, valued at $6,342,321.08. This 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 have sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Ingredion stock traded down $1.68 during mid-day trading on Friday, hitting $122.36. The company had a trading volume of 1,308,235 shares, compared to its average volume of 501,574. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 0.98 and a beta of 0.77. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The company's fifty day moving average is $128.68 and its 200-day moving average is $132.54. 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 released its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.7%. 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 (DPR) is 32.00%.

Analysts Set New Price Targets

INGR has been the topic of a number of analyst reports. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.