Ethic Inc. Acquires 2,288 Shares of 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. raised its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,389 shares of the company's stock after acquiring an additional 2,288 shares during the quarter. Ethic Inc.'s holdings in Ingredion were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of INGR. Alpine Bank Wealth Management purchased a new position in shares of Ingredion during the 1st quarter worth $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion during the 1st quarter worth $32,000. Ameriflex Group Inc. purchased a new position in shares of Ingredion during the 4th quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after buying an additional 80 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of Ingredion during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $151.40.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the business's 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 sale, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. The trade was a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the sale, the chief executive officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 37,137 shares of company stock worth $4,700,163. Corporate insiders own 2.30% of the company's stock.

Ingredion Price Performance

Shares of INGR traded up $1.4480 during trading hours on Friday, reaching $129.0880. 388,783 shares of the stock traded hands, compared to its average volume of 448,493. 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 has a market cap of $8.28 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. The company's 50-day moving average price is $132.58 and its two-hundred day moving average price is $132.74. 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 announced its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to analysts' expectations 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 previous year, the company earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share 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.