Ingredion Incorporated $INGR Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Ingredion Incorporated by 5.6%, now holding approximately 0.14% of the company, valued at $11.8 million.
• Ingredion has recently faced target price adjustments, with Oppenheimer lowering it to $155.00, while UBS Group raised theirs to $151.00, reflecting varied analyst opinions.
• The company reported quarterly earnings of $2.87 per share, beating estimates, but experienced a 2.4% year-over-year revenue decline.

Algert Global LLC lowered its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,330 shares of the company's stock after selling 5,140 shares during the quarter. Algert Global LLC owned approximately 0.14% of Ingredion worth $11,808,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGR. First Trust Advisors LP raised its holdings in Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock valued at $80,209,000 after acquiring an additional 10,703 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Ingredion in the 1st quarter valued at $646,000. Jupiter Asset Management Ltd. raised its holdings in Ingredion by 38.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company's stock valued at $46,268,000 after acquiring an additional 94,575 shares during the last quarter. Brown Advisory Inc. raised its holdings in Ingredion by 8.4% in the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company's stock valued at $313,000 after acquiring an additional 180 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in Ingredion by 156.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company's stock valued at $1,499,000 after acquiring an additional 6,768 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the 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 completion of the sale, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the stock in a transaction on 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 sale, the senior vice president owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. This represents a 2.65% 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. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of "Hold" and an average target price of $151.40.

Ingredion Trading Up 1.6%

Shares of INGR stock traded up $2.0910 on Friday, reaching $129.7310. 103,410 shares of the stock were exchanged, compared to its average volume of 521,917. The stock has a market cap of $8.33 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. 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 firm has a 50 day moving average of $132.76 and a two-hundred day moving average of $132.69. Ingredion Incorporated has a 1-year low of $120.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.09. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period 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, research analysts anticipate that Ingredion Incorporated will post 11.14 EPS 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.