Ingredion Incorporated $INGR Shares Sold by Martingale Asset Management L P

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 lessened its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities & 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 approximately 0.27% of Ingredion worth $23,805,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Ingredion in the 1st quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Ingredion in the 1st quarter valued at $32,000. Ameriflex Group Inc. bought a new position in Ingredion in the 4th quarter valued at $33,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in Ingredion in the 1st quarter valued at $41,000. 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 company'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 sale, the senior vice president directly owned 31,171 shares in the company, valued at $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 available through this link. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 50,129 shares of the company's stock, valued at $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. Insiders have sold a total of 37,137 shares of company stock valued at $4,700,163 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group upped 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. Wall Street Zen cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $151.40.

Ingredion Stock Up 0.4%

Shares of NYSE INGR traded up $0.47 during mid-day trading on Tuesday, reaching $128.49. 117,960 shares of the company were exchanged, compared to its average volume of 519,352. 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 market cap of $8.25 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 1 year low of $120.51 and a 1 year high of $155.44. The firm has a 50-day moving average of $132.39 and a 200 day moving average of $132.78.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.83 billion during 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 firm's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

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.