Empowered Funds LLC Buys 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 lifted its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 108.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,662 shares of the company's stock after acquiring 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 reporting period.

Several other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Ingredion by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock worth $372,594,000 after purchasing an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Ingredion by 1.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after purchasing an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH grew 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 worth $162,840,000 after purchasing an additional 361,584 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock worth $132,883,000 after purchasing an additional 265,263 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after purchasing an additional 45,631 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INGR. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group boosted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 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.com, Ingredion has an average rating of "Hold" and a consensus price target of $151.40.

Ingredion Price Performance

Ingredion stock traded down $0.63 on Friday, reaching $126.25. The company's stock had a trading volume of 330,125 shares, compared to its average volume of 410,874. 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 company has a market cap of $8.10 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.01 and a beta of 0.77. The business's fifty day moving average price is $129.91 and its 200 day moving average price is $132.76. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business's revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.82 per share. The ex-dividend date is Wednesday, October 1st. This is an increase 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%. Ingredion's dividend payout ratio is presently 31.22%.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 850 shares of the company's 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 in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,137 shares of company stock valued at $4,700,163. 1.80% of the stock is currently owned by corporate insiders.

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.