Wedge Capital Management L L P NC Grows Stock Holdings in Ingredion Incorporated $INGR

Key Points

• Wedge Capital Management increased its stake in Ingredion by 4.7% during Q2, owning about 51,010 shares valued at approximately $6.9 million.
• Ingredion announced a quarterly dividend increase to $0.82 per share, reflecting a 2.7% dividend yield, with the payout ratio at 31.22%.
• Despite a quarterly revenue decrease of 2.4% year-over-year, Ingredion reported stronger-than-expected earnings per share of $2.87, outpacing estimates by $0.09.

Wedge Capital Management L L P NC increased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,010 shares of the company's stock after purchasing an additional 2,311 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of Ingredion worth $6,918,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion in the first quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Ingredion in the first quarter valued at about $32,000. Ameriflex Group Inc. purchased a new position in Ingredion in the fourth quarter valued at about $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in Ingredion during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of Ingredion 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 completion of the sale, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 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. Over the last three months, insiders have sold 37,137 shares of company stock valued at $4,700,163. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group raised their target price on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded Ingredion from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Stock Performance

INGR traded up $0.15 during midday trading on Tuesday, reaching $122.24. The company had a trading volume of 244,161 shares, compared to its average volume of 523,750. The stock has a market cap of $7.85 billion, a PE ratio of 11.93, a P/E/G ratio of 0.98 and a beta of 0.77. 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 business has a 50-day moving average price of $128.40 and a two-hundred day moving average price of $132.45. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last posted its 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 analysts' expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. This is a positive change from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is 31.22%.

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.