BI Asset Management Fondsmaeglerselskab A S Sells 46,923 Shares of Ingredion Incorporated $INGR

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Ingredion Incorporated by 84.2%, selling 46,923 shares and now holding 8,794 shares, valued at $1,189,000.
• Ingredion's earnings per share (EPS) for the last quarter was $2.87, beating estimates, but its revenue of $1.83 billion was below expectations and down 2.4% year-over-year.
• Institutional investors currently own 85.27% of Ingredion's stock, indicating strong institutional interest in the company.

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 84.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,794 shares of the company's stock after selling 46,923 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Ingredion were worth $1,189,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Ingredion during the first quarter valued at about $646,000. Jupiter Asset Management Ltd. grew its stake in shares of Ingredion by 38.2% during the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company's stock valued at $46,268,000 after buying an additional 94,575 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Ingredion by 8.4% during the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company's stock valued at $313,000 after buying an additional 180 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Ingredion by 156.7% in the first quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company's stock worth $1,499,000 after purchasing an additional 6,768 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Ingredion by 24.0% in the first quarter. Oppenheimer & Co. Inc. now owns 26,953 shares of the company's stock worth $3,644,000 after purchasing an additional 5,215 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Stock Performance

NYSE:INGR traded up $0.71 during trading hours on Wednesday, reaching $128.78. The company had a trading volume of 80,174 shares, compared to its average volume of 518,926. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The firm's 50 day moving average price is $132.20 and its 200-day moving average price is $132.75. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.02 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate 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% 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. On average, analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 50,129 shares in the company, 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. In the last quarter, insiders sold 37,137 shares of company stock worth $4,700,163. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INGR. Wall Street Zen lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group raised their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.