Martingale Asset Management L P Trims Holdings in Ingredion Incorporated $INGR

Key Points

• Martingale Asset Management L P reduced its stake in Ingredion Incorporated by 4.5%, now owning approximately 176,058 shares valued at around $23.8 million.
• Ingredion's recent earnings report showed $2.87 earnings per share, exceeding estimates, but its revenue has declined by 2.4% year-over-year.
• Insider trading activity included significant share sales by top executives, with CEO James P. Zallie selling 36,287 shares for over $4.5 million.

Martingale Asset Management L P trimmed its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,058 shares of the company's stock after selling 8,260 shares during the quarter. Martingale Asset Management L P owned 0.27% of Ingredion worth $23,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital Fund Management S.A. purchased a new stake in Ingredion in the first quarter worth $2,013,000. Level Four Advisory Services LLC grew its stake in shares of Ingredion by 8.4% during the 1st quarter. Level Four Advisory Services LLC now owns 38,408 shares of the company's stock worth $5,193,000 after acquiring an additional 2,980 shares during the period. Humankind Investments LLC increased its holdings in Ingredion by 12.6% in the 1st quarter. Humankind Investments LLC now owns 5,960 shares of the company's stock worth $806,000 after acquiring an additional 668 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Ingredion by 43.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,193 shares of the company's stock valued at $565,000 after acquiring an additional 1,270 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Ingredion by 117.1% in the 1st quarter. Hsbc Holdings PLC now owns 73,233 shares of the company's stock valued at $9,840,000 after acquiring an additional 39,502 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction dated Tuesday, August 12th. The stock was 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 in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction dated Monday, August 4th. The stock was 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 owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. 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. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group boosted their price objective on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Price Performance

NYSE:INGR traded up $1.4480 during trading hours on Friday, hitting $129.0880. 388,783 shares of the company's stock traded hands, compared to its average volume of 448,493. The firm has a market cap of $8.28 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The business's fifty day simple moving average is $132.58 and its two-hundred day simple moving average is $132.74. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) 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 company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company earned $2.87 earnings per share. The firm's quarterly 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, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

About Ingredion

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.