Ethic Inc. Boosts Stake in Ingredion Incorporated $INGR

Key Points

• Ethic Inc. increased its stake in Ingredion Incorporated by 15.2%, bringing its total holdings to 17,389 shares valued at approximately $2.36 million.
• Ingredion reported quarterly earnings of $2.87 per share, exceeding estimates, although revenue fell short, totaling $1.83 billion, down 2.4% year-over-year.
• The company announced a quarterly dividend of $0.80 per share, yielding 2.5%, with a dividend payout ratio of 31.22% as of the latest report.

Ethic Inc. grew its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,389 shares of the company's stock after purchasing an additional 2,288 shares during the quarter. Ethic Inc.'s holdings in Ingredion were worth $2,364,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Ingredion by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock valued at $372,594,000 after purchasing an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock valued at $164,771,000 after purchasing an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Ingredion by 42.9% in the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after purchasing an additional 361,584 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ingredion by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock valued at $98,347,000 after purchasing an additional 45,631 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Ingredion by 22.6% in the fourth quarter. Northern Trust Corp now owns 717,526 shares of the company's stock valued at $98,703,000 after purchasing an additional 132,151 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Two 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, Ingredion presently has a consensus rating of "Hold" and an average target price of $151.40.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of Ingredion 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by company insiders.

Ingredion Stock Performance

Shares of INGR traded up $1.4480 during mid-day trading on Friday, hitting $129.0880. The stock had a trading volume of 200,555 shares, compared to its average volume of 522,476. The firm has a market cap of $8.28 billion, a P/E ratio of 12.59, a PEG ratio of 1.01 and a beta of 0.71. The business has a fifty day moving average price of $132.76 and a 200-day moving average price of $132.69. 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 Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm 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 period in the previous year, the company posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, equities research 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.