Prudential PLC Raises Holdings in Ingredion Incorporated $INGR

Key Points

• Prudential PLC significantly increased its stake in Ingredion Incorporated by 313.1% in the first quarter, owning 13,466 shares valued at approximately $1.82 million.
• Ingredion recently reported earnings with an EPS of $2.87, exceeding estimates, but its revenue for the quarter fell short of expectations, totaling $1.83 billion.
• The company announced a quarterly dividend of $0.80, translating to an annualized payout of $3.20 and a dividend yield of 2.5%.

Prudential PLC increased its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 313.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,466 shares of the company's stock after purchasing an additional 10,206 shares during the quarter. Prudential PLC's holdings in Ingredion were worth $1,821,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Ingredion by 1.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock worth $164,771,000 after acquiring an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after purchasing an additional 361,584 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ingredion by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company's stock worth $98,347,000 after acquiring an additional 45,631 shares during the last quarter. Northern Trust Corp grew its holdings in Ingredion by 22.6% during the 4th quarter. Northern Trust Corp now owns 717,526 shares of the company's stock valued at $98,703,000 after purchasing an additional 132,151 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Ingredion by 1.9% in the 4th quarter. First Trust Advisors LP now owns 583,081 shares of the company's stock worth $80,209,000 after purchasing an additional 10,703 shares during the period. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. Oppenheimer reduced their target price on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, UBS Group upped their price objective on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note 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. According to data from MarketBeat, Ingredion has a consensus rating of "Hold" and a consensus target price of $151.40.

Insider Activity at Ingredion

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 value of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James P. Zallie sold 36,287 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is owned by insiders.

Ingredion Price Performance

NYSE INGR traded up $0.5630 on Tuesday, hitting $125.8330. The company had a trading volume of 78,687 shares, compared to its average volume of 524,030. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. The company has a market capitalization of $8.08 billion, a PE ratio of 12.27, a PEG ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The company's fifty day moving average price is $133.49 and its 200-day moving average price is $132.82.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion during 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%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were issued a $0.80 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Ingredion's payout ratio is 31.22%.

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.