Nuveen LLC Invests $20.28 Million in Ingredion Incorporated $INGR

Key Points

• Nuveen LLC has acquired 150,017 shares of Ingredion Incorporated, worth approximately $20.28 million, increasing its ownership to about 0.23% of the company.
• Analysts have mixed views on Ingredion, with Oppenheimer lowering its price target from $167 to $155 while UBS raised it from $149 to $151, resulting in an average consensus price target of $151.40.
• Ingredion reported Q2 earnings of $2.87 per share, beating estimates, but its revenue of $1.83 billion fell short of the expected $1.89 billion, indicating a year-over-year decline of 2.4%.

Nuveen LLC purchased a new position in Ingredion Incorporated (NYSE:INGR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 150,017 shares of the company's stock, valued at approximately $20,284,000. Nuveen LLC owned about 0.23% of Ingredion as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Ingredion in the 1st quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion in the 1st quarter worth about $32,000. Ameriflex Group Inc. acquired a new stake in shares of Ingredion in the 4th quarter worth about $33,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Ingredion in the 1st quarter worth about $41,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INGR shares. Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group increased their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Ingredion presently has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Price Performance

Ingredion stock traded down $0.9770 during trading hours on Monday, hitting $128.0630. 229,250 shares of the company traded hands, compared to its average volume of 452,475. The firm has a market cap of $8.22 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.03 and a beta of 0.71. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $132.39 and its two-hundred day simple moving average is $132.78. Ingredion Incorporated has a 1-year low of $120.51 and a 1-year high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred 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 of the company's stock, valued at $6,342,321.08. The trade was a 41.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction that occurred on Monday, August 4th. The stock was 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 directly owned 31,171 shares in the company, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,137 shares of company stock worth $4,700,163. 1.80% of the stock is owned by corporate insiders.

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.