Ingredion Incorporated $INGR Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Ingredion Incorporated by 12.1%, now holding 18,572 shares worth approximately $2.5 million.
• Major adjustments in holdings by other hedge funds were noted, including Jupiter Asset Management Ltd. increasing its stake by 38.2% and Transcend Capital Advisors LLC boosting its stake by 156.7%.
• Ingredion's latest earnings report revealed a net margin of 9.24% with earnings per share of $2.87, exceeding analysts' expectations, despite a 2.4% decrease in revenue year-over-year.

State of New Jersey Common Pension Fund D lessened its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,572 shares of the company's stock after selling 2,565 shares during the period. State of New Jersey Common Pension Fund D's holdings in Ingredion were worth $2,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of INGR. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Ingredion by 327.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after purchasing an additional 407,027 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after purchasing an additional 361,584 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Ingredion by 536.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after purchasing an additional 304,421 shares during the last quarter. Boston Partners raised its position in shares of Ingredion by 333.9% during the 1st quarter. Boston Partners now owns 273,851 shares of the company's stock worth $36,868,000 after purchasing an additional 210,737 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Ingredion by 766.7% during the 1st quarter. Deutsche Bank AG now owns 230,317 shares of the company's stock worth $31,141,000 after purchasing an additional 203,742 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group increased their price objective on shares of 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $151.40.

Ingredion Price Performance

INGR stock traded up $1.28 during mid-day trading on Wednesday, reaching $129.35. The company's stock had a trading volume of 515,102 shares, compared to its average volume of 457,241. The stock has a market cap of $8.30 billion, a PE ratio of 12.62, a P/E/G 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. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The company's 50 day moving average is $132.05 and its two-hundred day moving average is $132.73.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities research analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

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

Insider Buying and Selling

In other news, CEO James P. Zallie sold 36,287 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 $6,342,321.08. This trade represents a 41.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the sale, the senior vice president owned 31,171 shares of the company's stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,137 shares of company stock valued at $4,700,163 in the last 90 days. Insiders own 2.30% of the company's stock.

Ingredion 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.