NorthCrest Asset Manangement LLC Trims Stake in Ingredion Incorporated $INGR

Key Points

• NorthCrest Asset Management LLC has decreased its stake in Ingredion Incorporated by 37.5%, selling 2,797 shares to hold a total of 4,661 shares valued at approximately $640,000.
• CEO James P. Zallie sold 36,287 shares on August 12th at an average price of $126.52, resulting in a significant decrease in his ownership of the company.
• Ingredion has announced a quarterly dividend increase to $0.82 per share, reflecting a commitment to returning value to shareholders, with a yield of approximately 2.7%.

NorthCrest Asset Manangement LLC trimmed its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 37.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,661 shares of the company's stock after selling 2,797 shares during the period. NorthCrest Asset Manangement LLC's holdings in Ingredion were worth $640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INGR. Allianz Asset Management GmbH increased its position in Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after buying an additional 361,584 shares in the last quarter. Millennium Management LLC increased its position in Ingredion by 1,093.5% in the 1st quarter. Millennium Management LLC now owns 365,693 shares of the company's stock valued at $49,445,000 after buying an additional 335,052 shares in the last quarter. Northern Trust Corp increased its position in Ingredion by 37.0% in the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock valued at $132,883,000 after buying an additional 265,263 shares in the last quarter. Boston Partners increased its position in Ingredion by 333.9% in the 1st quarter. Boston Partners now owns 273,851 shares of the company's stock valued at $36,868,000 after buying an additional 210,737 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Ingredion by 766.7% during the 1st 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 owned by institutional investors.

Ingredion Stock Up 0.2%

Shares of INGR stock traded up $0.29 during trading hours on Tuesday, hitting $122.38. 191,288 shares of the company's stock traded hands, compared to its average volume of 523,479. The stock's fifty day simple moving average is $128.40 and its two-hundred day simple moving average is $132.45. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.98 and a beta of 0.77. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41.

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 the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The company 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 represents a $3.28 annualized dividend and a dividend yield of 2.7%. This is an increase from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion's payout ratio is 31.22%.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred 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 directly 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 valued at $4,700,163 in the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.