Truvestments Capital LLC Acquires 23,099 Shares of Ingredion Incorporated $INGR

Key Points

• Truvestments Capital LLC significantly increased its stake in Ingredion by 1,153.2%, acquiring over 23,000 additional shares in the first quarter of 2023, making their total holdings worth approximately $3.4 million.
• Ingredion's stock reported a narrow increase of 0.1% and is currently trading at $128.18, with a market capitalization of $8.23 billion.
• The company reported earnings of $2.87 per share for the latest quarter, exceeding estimates by $0.09, while forecasting a range of $11.100 - $11.600 EPS for FY 2025.

Truvestments Capital LLC grew its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 1,153.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,102 shares of the company's stock after purchasing an additional 23,099 shares during the period. Truvestments Capital LLC's holdings in Ingredion were worth $3,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Delta Investment Management LLC boosted its stake in shares of Ingredion by 41.0% in the 1st quarter. Delta Investment Management LLC now owns 3,447 shares of the company's stock valued at $466,000 after purchasing an additional 1,003 shares in the last quarter. Ieq Capital LLC acquired a new position in Ingredion during the 1st quarter worth about $561,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Ingredion by 22.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 652,156 shares of the company's stock worth $88,178,000 after buying an additional 120,743 shares in the last quarter. Walleye Capital LLC lifted its position in Ingredion by 16.5% during the 1st quarter. Walleye Capital LLC now owns 1,921 shares of the company's stock worth $260,000 after buying an additional 272 shares in the last quarter. Finally, Jump Financial LLC lifted its position in Ingredion by 474.2% during the 1st quarter. Jump Financial LLC now owns 11,501 shares of the company's stock worth $1,555,000 after buying an additional 9,498 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Ingredion Trading Up 0.4%

NYSE:INGR traded up $0.49 on Friday, hitting $129.54. 439,732 shares of the stock were exchanged, compared to its average volume of 450,213. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The company's 50-day moving average price is $131.74 and its 200 day moving average price is $132.74.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.87 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders 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 of this dividend is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.5%. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Analyst Upgrades and Downgrades

INGR has been the topic of several research reports. UBS Group upped their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $151.40.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction dated 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 directly owned 50,129 shares of the company's stock, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction dated 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 sale, the senior vice president directly 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 ninety days, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently 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.