Ingredion Incorporated $INGR Stock Holdings Lowered by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Ingredion Inc. by 62.8% in Q2, holding only 6,920 shares worth approximately $938,000.
• Ingredion's quarterly earnings surpassed expectations with an EPS of $2.87, but its revenue fell 2.4% year-over-year to $1.83 billion.
• The company announced an increase in its quarterly dividend to $0.82 per share, reflecting a 2.6% yield, with the ex-dividend date set for October 1st.

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 62.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,920 shares of the company's stock after selling 11,680 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Ingredion were worth $938,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after buying an additional 80 shares in the last quarter. Waverly Advisors LLC raised its stake in shares of Ingredion by 3.8% in the 4th quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock valued at $317,000 after acquiring an additional 84 shares during the period. Retirement Guys Formula LLC raised its stake in shares of Ingredion by 5.7% in the 1st quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Ingredion by 5.8% in the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock valued at $228,000 after acquiring an additional 92 shares during the period. Finally, Bell Investment Advisors Inc raised its stake in shares of Ingredion by 41.2% in the 1st quarter. Bell Investment Advisors Inc now owns 346 shares of the company's stock valued at $47,000 after acquiring an additional 101 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Down 1.4%

INGR stock traded down $1.68 during midday trading on Friday, reaching $122.36. 1,308,235 shares of the company's stock traded hands, compared to its average volume of 455,601. The company has a market capitalization of $7.85 billion, a P/E ratio of 11.94, a PEG ratio of 0.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The business has a 50-day moving average price of $128.68 and a two-hundred day moving average price of $132.53.

Ingredion (NYSE:INGR - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal 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 dividend of $0.82 per share. This is an increase from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 1st. Ingredion's payout ratio is 31.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. UBS Group upped their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Ingredion currently has an average rating of "Hold" and a consensus price target of $151.40.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 850 shares of Ingredion 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 in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James P. Zallie sold 36,287 shares of Ingredion 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 completion of the sale, the chief executive officer owned 50,129 shares of the company's stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock worth $4,700,163 in the last quarter. 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.