KLP Kapitalforvaltning AS Buys 2,500 Shares of Ingredion Incorporated $INGR

Key Points

• KLP Kapitalforvaltning AS increased its stake in Ingredion Incorporated by 13.3% during Q2, now holding a total of 21,300 shares valued at $2,889,000.
• The company declared a quarterly dividend of $0.82, up from its previous $0.80, with an ex-dividend date set for October 1st.
• Ingredion's stock has a current year market cap of $7.69 billion and reported a quarterly earnings per share of $2.87, above analysts' expectations.

KLP Kapitalforvaltning AS raised its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,300 shares of the company's stock after acquiring an additional 2,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Ingredion were worth $2,889,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its stake 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 in the last quarter. Millennium Management LLC boosted its stake in Ingredion by 1,093.5% in the first quarter. Millennium Management LLC now owns 365,693 shares of the company's stock worth $49,445,000 after purchasing an additional 335,052 shares in the last quarter. Northern Trust Corp boosted its stake 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 in the last quarter. Boston Partners boosted its stake in Ingredion by 333.9% in the first quarter. Boston Partners now owns 273,851 shares of the company's stock worth $36,868,000 after purchasing an additional 210,737 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Ingredion by 766.7% in the first quarter. Deutsche Bank AG now owns 230,317 shares of the company's stock worth $31,141,000 after purchasing an additional 203,742 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Up 0.2%

Shares of Ingredion stock opened at $119.78 on Friday. The business's 50 day simple moving average is $125.08 and its 200 day simple moving average is $131.33. Ingredion Incorporated has a 52-week low of $119.31 and a 52-week high of $155.44. The firm has a market cap of $7.69 billion, a PE ratio of 11.69, a P/E/G ratio of 0.95 and a beta of 0.74. 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 (NYSE:INGR - Get Free Report) last posted 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. The firm 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 was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Ingredion in a research note on Wednesday. UBS Group cut their price target on Ingredion from $144.00 to $130.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Finally, Wall Street Zen lowered Ingredion from a "buy" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.20.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 36,287 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value 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. This represents a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,137 shares of company stock valued at $4,700,163. Corporate insiders own 2.30% of the company's stock.

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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