First Hawaiian Bank Invests $1.12 Million in Ingredion Incorporated $INGR

Key Points

• First Hawaiian Bank has taken a new position in Ingredion Incorporated, purchasing 8,306 shares valued at approximately $1.12 million during the first quarter.
• Ingredion announced a quarterly dividend increase from $0.80 to $0.82 per share, with an annualized yield of 2.6%.
• The company's recent earnings report showed an EPS of $2.87, beating analysts' expectations, but revenue decreased 2.4% year-over-year.

First Hawaiian Bank purchased a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,306 shares of the company's stock, valued at approximately $1,123,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Ingredion in the 1st quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Ingredion in the 1st quarter valued at approximately $32,000. Ameriflex Group Inc. bought a new position in Ingredion in the 4th quarter valued at approximately $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Finally, Costello Asset Management INC bought a new position in Ingredion in the 1st quarter valued at approximately $41,000. 85.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group increased their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $151.40.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the 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 in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $109,131.50. Following the completion of the sale, the senior vice president owned 31,171 shares of the company's stock, valued at $4,002,044.69. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,137 shares of company stock valued at $4,700,163 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Performance

Shares of NYSE:INGR traded down $2.37 during midday trading on Monday, hitting $123.76. The company had a trading volume of 542,770 shares, compared to its average volume of 410,874. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.01 and a beta of 0.77. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The company has a fifty day moving average of $129.66 and a two-hundred day moving average of $132.71.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share (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 business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $2.87 EPS. Ingredion's revenue for the quarter was down 2.4% compared to the same quarter last year. 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 fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, October 1st. This is a boost from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

About Ingredion

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.