Park Avenue Securities LLC Takes Position in Ingredion Incorporated $INGR

Key Points

• Park Avenue Securities LLC acquired a new stake in Ingredion Incorporated, purchasing 4,455 shares valued at approximately $604,000 in the second quarter.
• Ingredion recently increased its quarterly dividend to $0.82 per share, boosting the annualized dividend to $3.28 with a yield of 2.7%.
• Analysts have upgraded Ingredion's rating from "hold" to "buy," with a consensus rating of "Hold" and an average price target of $151.40.

Park Avenue Securities LLC bought a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,455 shares of the company's stock, valued at approximately $604,000.

Other institutional investors have also recently modified their holdings of the company. Jump Financial LLC lifted its position in shares of Ingredion by 474.2% during the 1st quarter. Jump Financial LLC now owns 11,501 shares of the company's stock valued at $1,555,000 after acquiring an additional 9,498 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Ingredion during the 1st quarter valued at $646,000. Jupiter Asset Management Ltd. lifted its position in shares of Ingredion by 38.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company's stock valued at $46,268,000 after acquiring an additional 94,575 shares during the period. Brown Advisory Inc. lifted its position in shares of Ingredion by 8.4% during the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company's stock valued at $313,000 after acquiring an additional 180 shares during the period. Finally, Transcend Capital Advisors LLC lifted its position in shares of Ingredion by 156.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company's stock valued at $1,499,000 after acquiring an additional 6,768 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Ingredion from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. UBS Group upped their price objective on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $151.40.

Ingredion Price Performance

Shares of INGR opened at $121.07 on Monday. Ingredion Incorporated has a 12-month low of $120.48 and a 12-month high of $155.44. The business has a 50-day simple moving average of $127.37 and a two-hundred day simple moving average of $132.14. 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 stock has a market cap of $7.77 billion, a PE ratio of 11.81, a PEG ratio of 0.97 and a beta of 0.77.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The business'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. Analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, October 1st. This is a boost from Ingredion's previous quarterly dividend of $0.80. Ingredion's payout ratio is currently 31.22%.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the stock in a transaction dated Monday, August 4th. The stock was 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. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the stock in a transaction dated 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 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. The trade was a 41.99% decrease in their position. The disclosure for this sale can be found here. 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.

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