Intech Investment Management LLC Has $3.10 Million Position in Ingredion Incorporated $INGR

Key Points

• Intech Investment Management LLC increased its stake in Ingredion Incorporated by 31%, holding 22,893 shares valued at approximately $3.1 million.
• The company announced a quarterly dividend increase from $0.80 to $0.82, representing a 2.6% annual yield, payable on October 21st.
• Ingredion's latest quarterly earnings exceeded analyst expectations with an EPS of $2.87, while revenue slightly declined by 2.4% year-over-year.

Intech Investment Management LLC grew its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,893 shares of the company's stock after buying an additional 5,413 shares during the quarter. Intech Investment Management LLC's holdings in Ingredion were worth $3,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Ingredion by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock valued at $372,594,000 after buying an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Ingredion by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock valued at $164,771,000 after buying an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after purchasing an additional 361,584 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock valued at $132,883,000 after purchasing an additional 265,263 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock valued at $98,347,000 after purchasing an additional 45,631 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INGR has been the topic of several research reports. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $151.40.

Insiders Place Their Bets

In related news, 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 transaction of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares of the company's stock, valued at $4,002,044.69. This 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 can be accessed through the SEC website. Also, 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 transaction of $4,591,031.24. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,137 shares of company stock worth $4,700,163. Insiders own 2.30% of the company's stock.

Ingredion Trading Down 0.5%

NYSE:INGR opened at $126.25 on Friday. The firm's fifty day moving average is $129.91 and its 200-day moving average is $132.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The firm has a market cap of $8.10 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.02 and a beta of 0.77.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS 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 for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.87 EPS. The company'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. Equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Ingredion's previous quarterly dividend of $0.80. Ingredion's payout ratio is currently 31.22%.

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.

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