Ingredion Incorporated $INGR Shares Purchased by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC has increased its stake in Ingredion by 11.9%, owning a total of 136,088 shares valued at approximately $18.4 million.
• Analysts have revised their ratings on Ingredion, with Wall Street Zen changing its stance from "buy" to "hold," while UBS raised the price target from $149 to $151.
• Ingredion recently announced a quarterly dividend of $0.82 per share, an increase from the previous dividend of $0.80, indicating a positive change in investor returns.

Gotham Asset Management LLC raised its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,088 shares of the company's stock after acquiring an additional 14,500 shares during the period. Gotham Asset Management LLC owned approximately 0.21% of Ingredion worth $18,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hancock Whitney Corp raised its stake in Ingredion by 4.3% during the 1st quarter. Hancock Whitney Corp now owns 7,148 shares of the company's stock valued at $966,000 after acquiring an additional 294 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Ingredion during the 1st quarter valued at approximately $54,000. AQR Capital Management LLC raised its stake in Ingredion by 38.1% during the 1st quarter. AQR Capital Management LLC now owns 436,868 shares of the company's stock valued at $59,069,000 after acquiring an additional 120,524 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in Ingredion during the 1st quarter valued at approximately $262,000. Finally, Alamea Verwaltungs GmbH purchased a new stake in Ingredion during the 1st quarter valued at approximately $613,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Ingredion from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group increased their target price on 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $151.40.

Ingredion Price Performance

Shares of INGR traded up $0.23 on Thursday, reaching $126.18. The stock had a trading volume of 109,949 shares, compared to its average volume of 516,347. The firm has a market capitalization of $8.10 billion, a PE ratio of 12.31, a PEG ratio of 1.02 and a beta of 0.77. 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 firm has a 50-day moving average of $130.34 and a 200 day moving average of $132.79. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 19.04% and a net margin of 9.24%.The company's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Sell-side 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. Investors of record on Wednesday, October 1st will be issued a $0.82 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Ingredion's previous quarterly dividend of $0.80. Ingredion's payout ratio is currently 31.22%.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 850 shares of the company'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 value of $109,131.50. Following the sale, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value of $4,591,031.24. Following the sale, the chief executive officer owned 50,129 shares in the company, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,137 shares of company stock worth $4,700,163. Insiders own 2.30% of the company's stock.

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.