RBA Wealth Management LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,639 shares of the company's stock, valued at approximately $2,799,000.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Ingredion by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company's stock worth $372,594,000 after buying an additional 177,387 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company's stock valued at $164,771,000 after acquiring an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after acquiring an additional 361,584 shares during the last quarter. Northern Trust Corp lifted its holdings in Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock worth $132,883,000 after buying an additional 265,263 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 period. Hedge funds and other institutional investors own 85.27% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $151.40.
Read Our Latest Report on Ingredion
Ingredion Trading Up 0.0%
Shares of NYSE INGR opened at $121.07 on Friday. The stock's 50 day moving average price is $127.37 and its two-hundred day moving average price is $132.13. 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 capitalization of $7.77 billion, a P/E ratio of 11.81, a PEG ratio of 0.97 and a beta of 0.77. Ingredion Incorporated has a 52-week low of $120.48 and a 52-week high of $155.44.
Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $2.87 earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.
Ingredion Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend 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 32.00%.
Insider Buying and Selling
In other news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction on 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 in the company, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Larry Fernandes sold 850 shares of the stock in a transaction on 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 transaction, the senior vice president directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is owned by company insiders.
Ingredion Profile
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Free Report)
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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