Nomura Holdings Inc. Reduces Position in Ingredion Incorporated $INGR

Key Points

• Nomura Holdings Inc. significantly reduced its stake in Ingredion Incorporated by selling 68,401 shares, resulting in an 88.9% decrease in its holdings during the first quarter.
• Ingredion announced a quarterly dividend increase to $0.82, with a payout date set for October 21, representing an annualized yield of 2.6%.
• Several hedge funds, including Jane Street Group LLC and BNP Paribas Financial Markets, have increased their holdings in Ingredion, indicating positive institutional interest in the company's stock.

Nomura Holdings Inc. lessened its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 88.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,535 shares of the company's stock after selling 68,401 shares during the quarter. Nomura Holdings Inc.'s holdings in Ingredion were worth $1,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Jane Street Group LLC grew its stake in Ingredion by 170.6% in the 4th quarter. Jane Street Group LLC now owns 103,810 shares of the company's stock worth $14,280,000 after acquiring an additional 65,447 shares in the last quarter. AXA S.A. lifted its stake in shares of Ingredion by 31.8% in the 4th quarter. AXA S.A. now owns 24,055 shares of the company's stock valued at $3,309,000 after purchasing an additional 5,804 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Ingredion by 9.8% in the fourth quarter. Ameriprise Financial Inc. now owns 158,346 shares of the company's stock valued at $21,782,000 after acquiring an additional 14,178 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Ingredion by 101.1% during the 4th quarter. BNP Paribas Financial Markets now owns 99,027 shares of the company's stock worth $13,622,000 after acquiring an additional 49,790 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in Ingredion by 4.4% during the fourth quarter. Benjamin Edwards Inc. now owns 10,235 shares of the company's stock worth $1,408,000 after purchasing an additional 430 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction 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 transaction, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. This trade represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares in the company, valued at $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. Insiders have sold 37,137 shares of company stock valued at $4,700,163 over the last 90 days. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

INGR has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Ingredion from a "buy" rating to a "hold" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $151.40.

Ingredion Price Performance

Shares of Ingredion stock traded down $1.04 on Monday, hitting $127.37. 230,364 shares of the company traded hands, compared to its average volume of 519,017. 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 business has a 50-day simple moving average of $130.93 and a 200 day simple moving average of $132.88. The stock has a market capitalization of $8.17 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.77.

Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company posted $2.87 earnings per share. Ingredion's revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Ingredion 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.