Polaris Capital Management LLC Sells 17,500 Shares of Ingredion Incorporated $INGR

Key Points

• Polaris Capital Management LLC has reduced its stake in Ingredion by 6.8%, selling 17,500 shares and currently holding a total of 238,100 shares valued at approximately $32.29 million.
• Ingredion recently increased its quarterly dividend to $0.82 per share, set to be paid on October 21st, with a current dividend yield of 2.7%.
• Three analysts have given Ingredion a "Buy" rating, while the consensus target price is $151.40, with the stock having recently traded near $120.91.

Polaris Capital Management LLC cut its stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,100 shares of the company's stock after selling 17,500 shares during the quarter. Ingredion makes up 2.1% of Polaris Capital Management LLC's portfolio, making the stock its 18th largest holding. Polaris Capital Management LLC owned about 0.37% of Ingredion worth $32,291,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of Ingredion during the first quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingredion during the first quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock valued at $38,000 after buying an additional 80 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Ingredion in the second quarter valued at about $40,000. Finally, Costello Asset Management INC bought a new position in shares of Ingredion in the first quarter valued at about $41,000. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INGR shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ingredion in a report on Saturday, September 27th. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Ingredion currently has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Insider Activity

In other news, SVP Larry Fernandes sold 850 shares of the business's stock in a transaction dated 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 approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,137 shares of company stock valued at $4,700,163 over the last 90 days. Corporate insiders own 2.30% of the company's stock.

Ingredion Price Performance

Shares of INGR stock opened at $120.91 on Friday. The stock has a 50-day moving average price of $126.13 and a 200 day moving average price of $131.76. 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 has a market cap of $7.76 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.95 and a beta of 0.74. Ingredion Incorporated has a 12 month low of $119.31 and a 12 month high of $155.44.

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

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders 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%. The ex-dividend date is Wednesday, October 1st. This is an increase from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is presently 32.00%.

Ingredion Company 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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