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 holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 84.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,794 shares of the company's stock after selling 46,923 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ingredion were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the transaction, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $4,591,031.24. Following the transaction, the chief executive officer owned 50,129 shares of the company's stock, valued at $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock valued at $4,700,163 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent research reports. Wall Street Zen lowered Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group raised their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $151.40.

Ingredion Stock Up 1.1%

Shares of NYSE:INGR traded up $1.4480 on Friday, hitting $129.0880. 388,783 shares of the company traded hands, 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 has a 50 day simple moving average of $132.58 and a 200-day simple moving average of $132.78. The company has a market cap of $8.28 billion, a PE ratio of 12.59, a PEG ratio of 1.03 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $2.87 earnings per share. 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. As a group, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

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.