Nuveen LLC Makes New $20.28 Million Investment 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 Form 13F filing with the Securities and Exchange Commission. The fund 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INGR. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Waverly Advisors LLC lifted its holdings in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock valued at $317,000 after purchasing an additional 84 shares during the last quarter. Retirement Guys Formula LLC lifted its holdings in Ingredion by 5.7% during the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after purchasing an additional 84 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock valued at $228,000 after purchasing an additional 92 shares during the last quarter. Finally, Hancock Whitney Corp lifted its holdings in shares of Ingredion by 1.6% in the fourth quarter. Hancock Whitney Corp now owns 6,854 shares of the company's stock worth $943,000 after buying an additional 108 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. 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 note on Wednesday, July 9th. Wall Street Zen cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ingredion presently has a consensus rating of "Hold" and a consensus target price of $151.40.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 36,287 shares of the firm's 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 sale, the chief executive officer directly owned 50,129 shares of the company's stock, valued at $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction that occurred 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 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 sold 37,137 shares of company stock worth $4,700,163 over the last ninety days. 2.30% of the stock is currently owned by insiders.

Ingredion Price Performance

NYSE INGR traded up $1.4480 on Friday, hitting $129.0880. The stock had a trading volume of 388,783 shares, compared to its average volume of 448,493. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The firm has a 50-day moving average of $132.58 and a 200-day moving average of $132.74. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 52-week low of $120.51 and a 52-week high of $155.44.

Ingredion (NYSE:INGR - Get Free Report) last announced its 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. The business had revenue of $1.83 billion for 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%. Ingredion's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

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.