Northern Trust Corp Increases Stock Holdings in Ingredion Incorporated $INGR

Key Points

• Northern Trust Corp increased its shares in Ingredion Incorporated by 37.0% to a total of 982,789 shares, valued at around $132.88 million.
• In insider trading, SVP Larry Fernandes and CEO James P. Zallie sold shares, decreasing their holdings by 2.65% and 41.99%, respectively.
• Analysts have mixed views on Ingredion, with a new average target price of $151.40 and recent downgrades affecting its ratings.

Northern Trust Corp lifted its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 37.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 982,789 shares of the company's stock after acquiring an additional 265,263 shares during the quarter. Northern Trust Corp owned approximately 1.53% of Ingredion worth $132,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Ingredion by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock worth $372,594,000 after purchasing an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after purchasing an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH increased its holdings 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. Bank of New York Mellon Corp increased its holdings in Ingredion by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after purchasing an additional 45,631 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Ingredion by 13.3% in the first quarter. Assetmark Inc. now owns 576,846 shares of the company's stock worth $77,995,000 after purchasing an additional 67,494 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INGR shares. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group lifted their target price on Ingredion from $149.00 to $151.00 and gave the stock 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's stock. According to MarketBeat.com, Ingredion has an average rating of "Hold" and an average price target of $151.40.

Ingredion Stock Up 0.9%

Ingredion stock traded up $1.10 during mid-day trading on Wednesday, reaching $129.17. The stock had a trading volume of 217,138 shares, compared to its average volume of 519,781. 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 fifty-two week low of $120.51 and a fifty-two week high of $155.44. The stock's 50-day simple moving average is $132.20 and its 200-day simple moving average is $132.75. The firm has a market capitalization of $8.29 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer owned 50,129 shares of the company's stock, valued at $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,137 shares of company stock valued at $4,700,163 in the last three months. Insiders own 1.80% of the company's stock.

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.