Livforsakringsbolaget Skandia Omsesidigt Boosts Holdings in Ingredion Incorporated $INGR

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Ingredion by 24.7% in Q2, now holding 23,200 shares valued at approximately $3.14 million.
• Ingredion reported earnings per share of $2.87 for the latest quarter, exceeding estimates, but revenues decreased 2.4% year-over-year.
• The company announced a quarterly dividend increase to $0.82, resulting in an annualized dividend of $3.28 and a yield of 2.6%.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,200 shares of the company's stock after purchasing an additional 4,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Ingredion were worth $3,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its stake in shares of Ingredion by 1.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 6,157 shares of the company's stock worth $835,000 after purchasing an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ingredion by 14.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,049 shares of the company's stock worth $1,930,000 after purchasing an additional 1,744 shares during the period. Balefire LLC bought a new position in shares of Ingredion in the 2nd quarter worth approximately $248,000. Harbor Capital Advisors Inc. raised its stake in Ingredion by 1.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 31,052 shares of the company's stock worth $4,211,000 after acquiring an additional 461 shares during the period. Finally, Bank of New Hampshire raised its stake in Ingredion by 6.0% during the 2nd quarter. Bank of New Hampshire now owns 18,060 shares of the company's stock worth $2,449,000 after acquiring an additional 1,024 shares during the period. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In related news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 50,129 shares of the company's stock, valued at approximately $6,342,321.08. This trade 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 sold 37,137 shares of company stock valued at $4,700,163. 1.80% of the stock is currently owned by insiders.

Ingredion Price Performance

INGR traded up $0.27 during trading on Tuesday, reaching $122.36. 135,220 shares of the company traded hands, compared to its average volume of 523,110. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The firm has a fifty day simple moving average of $128.40 and a 200 day simple moving average of $132.45. The company has a market cap of $7.85 billion, a P/E ratio of 11.96, a PEG ratio of 0.98 and a beta of 0.77.

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, beating analysts' consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $2.87 EPS. The company's revenue was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, equities analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. UBS Group raised their target price on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Ingredion currently has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Company 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.