State of New Jersey Common Pension Fund D Trims Stock Position in Ingredion Incorporated $INGR

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 Ingredion Incorporated (NYSE:INGR - Free Report) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mariner LLC lifted its holdings in shares of Ingredion by 19.3% during the 4th quarter. Mariner LLC now owns 15,980 shares of the company's stock worth $2,198,000 after acquiring an additional 2,583 shares during the last quarter. NewEdge Advisors LLC raised its position in Ingredion by 7.4% during the fourth quarter. NewEdge Advisors LLC now owns 8,890 shares of the company's stock valued at $1,223,000 after purchasing an additional 610 shares in the last quarter. MetLife Investment Management LLC raised its position in Ingredion by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 36,737 shares of the company's stock valued at $5,054,000 after purchasing an additional 3,101 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Ingredion by 405.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,258 shares of the company's stock worth $861,000 after purchasing an additional 5,019 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in shares of Ingredion by 27.7% in the 4th quarter. Pinebridge Investments L.P. now owns 37,511 shares of the company's stock worth $5,160,000 after purchasing an additional 8,131 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Trading Up 1.1%

Shares of INGR traded up $1.4480 during trading hours on Friday, hitting $129.0880. The company had a trading volume of 388,783 shares, compared to its average volume of 452,475. Ingredion Incorporated has a 52-week low of $120.51 and a 52-week high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average price is $132.58 and its 200 day moving average price is $132.78. The firm has a market cap of $8.28 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.Ingredion's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INGR. UBS Group raised their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $151.40.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were 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 approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 50,129 shares of the company's stock, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,137 shares of company stock worth $4,700,163 in the last 90 days. Company insiders own 1.80% 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.