Ingredion Incorporated $INGR Stock Holdings Lowered by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. reduced its stake in Ingredion Incorporated by 9.9%, holding 349,700 shares worth approximately $47.4 million after selling 38,600 shares.
• Institutional investors now own 85.27% of Ingredion’s stock, while recent reports indicate a mixed outlook with three analysts giving a "Buy" rating and three a "Hold" rating.
• Ingredion has announced an increased quarterly dividend of $0.82, up from the previous $0.80, reflecting a dividend yield of 2.7%.

Hennessy Advisors Inc. lowered its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 9.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 349,700 shares of the company's stock after selling 38,600 shares during the period. Ingredion accounts for 1.6% of Hennessy Advisors Inc.'s portfolio, making the stock its 13th biggest holding. Hennessy Advisors Inc. owned about 0.54% of Ingredion worth $47,426,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Ingredion by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock worth $372,594,000 after acquiring an additional 177,387 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after purchasing an additional 22,333 shares during the period. Allianz Asset Management GmbH lifted its holdings in Ingredion by 42.9% in the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after purchasing an additional 361,584 shares during the period. Northern Trust Corp lifted its holdings in Ingredion by 37.0% in the first quarter. Northern Trust Corp now owns 982,789 shares of the company's stock worth $132,883,000 after purchasing an additional 265,263 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Ingredion by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after purchasing an additional 45,631 shares during the period. Institutional investors own 85.27% of the company's stock.

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were 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 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 filing with the SEC, which is available through this link. Also, CEO James P. Zallie sold 36,287 shares of the firm'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 of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 37,137 shares of company stock valued at $4,700,163. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on INGR. UBS Group upped 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ingredion in a report on Saturday, September 27th. Finally, Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Three 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.40.

Ingredion Price Performance

Shares of NYSE INGR opened at $120.91 on Friday. Ingredion Incorporated has a twelve month low of $119.31 and a twelve month high of $155.44. 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 company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.95 and a beta of 0.74. The firm has a 50-day moving average of $126.13 and a two-hundred day moving average of $131.76.

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 analysts' consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $2.87 EPS. Ingredion'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, analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be issued a $0.82 dividend. The ex-dividend date is Wednesday, October 1st. This is a positive change from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. Ingredion's dividend payout ratio is 32.00%.

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.

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