First Trust Advisors LP Grows Position in Ingredion Incorporated $INGR

Key Points

• First Trust Advisors LP increased its stake in Ingredion by 53.1% in the first quarter, making it a major holder with 3.05 million shares worth about $344.1 million.
• Ingredion reported mixed quarterly results, with EPS of $2.34 missing estimates by $0.10 while revenue matched expectations at $1.79 billion; revenue was also down 1.2% from a year earlier.
• The company pays a quarterly dividend of $0.82, equivalent to an annual yield of 3.2%, and analysts currently rate the stock a consensus Hold with an average price target of $122.43.

First Trust Advisors LP raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 53.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,054,149 shares of the company's stock after purchasing an additional 1,059,324 shares during the period. First Trust Advisors LP owned 4.84% of Ingredion worth $344,080,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC boosted its holdings in Ingredion by 32.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company's stock worth $281,000 after buying an additional 514 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ingredion by 63.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company's stock worth $499,000 after acquiring an additional 1,440 shares during the period. NewEdge Advisors LLC grew its position in shares of Ingredion by 9.0% in the first quarter. NewEdge Advisors LLC now owns 9,687 shares of the company's stock valued at $1,310,000 after purchasing an additional 797 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $13,712,000 after purchasing an additional 5,255 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Ingredion by 5.6% during the 1st quarter. Focus Partners Wealth now owns 3,636 shares of the company's stock worth $492,000 after purchasing an additional 192 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Down 0.6%

Shares of INGR opened at $101.91 on Wednesday. Ingredion Incorporated has a 1-year low of $94.44 and a 1-year high of $135.68. The company has a market capitalization of $6.43 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.86 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.76 and a quick ratio of 1.83. The firm's 50 day simple moving average is $100.12 and its 200 day simple moving average is $109.06.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.10). The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.79 billion. Ingredion had a return on equity of 15.86% and a net margin of 9.36%.Ingredion's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. Ingredion has set its FY 2026 guidance at 10.450-11.150 EPS. Sell-side analysts forecast that Ingredion Incorporated will post 10.88 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Ingredion's dividend payout ratio is currently 31.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Benchmark reaffirmed a "buy" rating on shares of Ingredion in a report on Tuesday, June 9th. Weiss Ratings cut shares of Ingredion from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, July 8th. Oppenheimer cut shares of Ingredion from an "outperform" rating to a "market perform" rating in a research note on Monday, June 8th. Barclays cut their price target on shares of Ingredion from $128.00 to $120.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Ingredion from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Ingredion currently has an average rating of "Hold" and an average price target of $122.43.

Ingredion Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company's product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.