Hsbc Holdings PLC Purchases 39,502 Shares of Ingredion Incorporated $INGR

Key Points

• HSBC Holdings PLC increased its stake in Ingredion Incorporated by 117.1%, owning 73,233 shares valued at approximately $9.84 million.
• Recent insider sales include SVP Larry Fernandes, who sold 850 shares, and CEO James P. Zallie, who sold 36,287 shares, reflecting a decrease in their respective positions.
• Ingredion reported $2.87 EPS for the latest quarter, surpassing analysts' estimates, but its revenue declined 2.4% year-over-year.

Hsbc Holdings PLC lifted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 117.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,233 shares of the company's stock after buying an additional 39,502 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Ingredion worth $9,840,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in 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 during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Ingredion by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock valued at $164,771,000 after acquiring an additional 22,333 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after acquiring an additional 361,584 shares during the last quarter. Northern Trust Corp increased its stake in shares of Ingredion by 37.0% in the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock valued at $132,883,000 after acquiring an additional 265,263 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Ingredion by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock valued at $98,347,000 after acquiring an additional 45,631 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Ingredion Stock Up 0.4%

Shares of Ingredion stock traded up $0.46 on Friday, reaching $129.51. 175,234 shares of the company were exchanged, compared to its average volume of 519,366. Ingredion Incorporated has a one year low of $120.51 and a one year high of $155.44. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.03 and a beta of 0.71. 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 50-day moving average of $131.89 and a 200 day moving average of $132.73.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business posted $2.87 EPS. The business's revenue 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 forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid a $0.82 dividend. This is a boost from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a yield of 2.5%. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is owned by company insiders.

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.