Raymond James Financial Inc. Raises Stock Position in Ingredion Incorporated $INGR

Key Points

• Raymond James Financial Inc. increased its stake in Ingredion Incorporated by 1.1% during the first quarter, owning 233,278 shares valued at approximately $31.5 million.
• Ingredion's stock saw mixed performance, with a P/E ratio of 12.59 and a market cap of $8.28 billion, while its recent quarterly earnings exceeded estimates at $2.87 EPS.
• Insider trading activity included significant sales by both the SVP and CEO, resulting in a combined decrease of 41.99% in their positions during recent transactions.

Raymond James Financial Inc. boosted its holdings in Ingredion Incorporated (NYSE:INGR - Free Report) by 1.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 233,278 shares of the company's stock after buying an additional 2,458 shares during the period. Raymond James Financial Inc. owned 0.36% of Ingredion worth $31,541,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Ingredion during the first quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion during the first quarter valued at about $32,000. Ameriflex Group Inc. purchased a new position in shares of Ingredion during the fourth quarter valued at about $33,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of 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 in the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of Ingredion during the first quarter valued at about $41,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Ingredion Trading Up 1.1%

INGR opened at $129.0880 on Friday. The firm has a market cap of $8.28 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 0.71. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $132.58 and a 200 day moving average of $132.74.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were 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 $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction 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. In the last three months, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by 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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