Empowered Funds LLC Acquires 50,360 Shares of Ingredion Incorporated $INGR

Key Points

• Empowered Funds LLC increased its stake in Ingredion Incorporated by 108.8%, owning approximately 0.15% of the company worth $12.99 million as of the latest SEC filing.
• The company reported earnings per share (EPS) of $2.87 for the last quarter, exceeding analyst expectations but with revenue down 2.4% year-over-year at $1.83 billion.
• Ingredion announced a quarterly dividend increase to $0.82 per share, representing a yield of 2.6%, with the ex-dividend date set for October 1st.

Empowered Funds LLC boosted its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 108.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,662 shares of the company's stock after purchasing an additional 50,360 shares during the period. Empowered Funds LLC owned approximately 0.15% of Ingredion worth $12,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Services Automobile Association bought a new stake in shares of Ingredion in the first quarter worth $576,000. Bell Investment Advisors Inc grew its position in Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company's stock valued at $47,000 after buying an additional 101 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Ingredion by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company's stock worth $13,712,000 after acquiring an additional 5,255 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Ingredion during the 1st quarter worth $295,000. Finally, NewEdge Advisors LLC grew its position in shares of Ingredion by 9.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,687 shares of the company's stock valued at $1,310,000 after acquiring an additional 797 shares during the period. 85.27% of the stock is owned by institutional investors.

Ingredion Price Performance

Shares of Ingredion stock traded down $0.63 during trading hours on Friday, hitting $126.25. The company's stock had a trading volume of 330,125 shares, compared to its average volume of 412,883. The company has a market cap of $8.10 billion, a PE ratio of 12.32, a PEG ratio of 1.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The business has a 50 day moving average price of $129.91 and a two-hundred day moving average price of $132.72. 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 posted its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.89 billion. During the same period in the previous year, the firm earned $2.87 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be given a dividend of $0.82 per share. This is a positive change from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value of $4,591,031.24. Following the sale, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 850 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock valued at $4,700,163 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on INGR shares. UBS Group raised 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 raised Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday. 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.com, the stock has an average rating of "Hold" and an average target price of $151.40.

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.