Nordea Investment Management AB Boosts Stake in Ingredion Incorporated $INGR

Key Points

• Nordea Investment Management AB has increased its stake in Ingredion Incorporated by 66.3%, owning approximately 1.12% of the company worth $97.5 million after acquiring an additional 288,201 shares.
• Ingredion recently announced a quarterly dividend increase to $0.82, representing a yield of 2.7%, with the ex-dividend date set for October 1st.
• Despite reporting Q2 earnings that exceeded expectations, the company’s revenue was down 2.4% year-over-year, and analysts anticipate an annual EPS of 11.14 for the current year.

Nordea Investment Management AB raised its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 66.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 722,933 shares of the company's stock after buying an additional 288,201 shares during the period. Nordea Investment Management AB owned approximately 1.12% of Ingredion worth $97,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Ingredion in the 1st quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Ingredion in the 1st quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Ingredion by 40.2% in the 1st 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 during the period. Ameritas Advisory Services LLC purchased a new position in Ingredion in the 2nd quarter valued at approximately $40,000. Finally, Costello Asset Management INC purchased a new position in Ingredion in the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Price Performance

Shares of INGR opened at $121.46 on Friday. Ingredion Incorporated has a 1-year low of $118.56 and a 1-year high of $155.44. The stock has a market cap of $7.80 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The firm has a fifty day moving average price of $124.54 and a 200 day moving average price of $130.82.

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. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the company earned $2.87 earnings per share. Ingredion's quarterly 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. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business 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 $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. This is a boost from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion's dividend payout ratio is presently 32.00%.

Analysts Set New Price Targets

Several equities analysts have commented on INGR shares. UBS Group decreased their price target on shares of Ingredion from $144.00 to $130.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Weiss Ratings restated a "buy (b)" rating on shares of Ingredion in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Ingredion from a "hold" rating to a "buy" rating in a report on Sunday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $147.20.

Insiders Place Their Bets

In other Ingredion 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 directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares in the company, 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 three months, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by corporate insiders.

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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