Ritholtz Wealth Management Acquires 2,965 Shares of Ingredion Incorporated $INGR

Key Points

• Ritholtz Wealth Management increased its stake in Ingredion by 15.6% during the second quarter, acquiring an additional 2,965 shares, bringing its total holdings to 21,970 shares valued at approximately $2.98 million.
• Recent analyst reports show a mixed sentiment on Ingredion, with UBS lowering its target price to $130 and three analysts rating it as a Moderate Buy with an average target price of $147.20.
• Ingredion announced a quarterly dividend increase to $0.82 per share, representing a 2.7% dividend yield and reflecting a positive change from the previous dividend of $0.80.

Ritholtz Wealth Management increased its holdings in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,970 shares of the company's stock after acquiring an additional 2,965 shares during the quarter. Ritholtz Wealth Management's holdings in Ingredion were worth $2,980,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of INGR. Alpine Bank Wealth Management bought a new stake in Ingredion during the first quarter worth $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Ingredion during the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after acquiring an additional 80 shares during the period. Ameritas Advisory Services LLC bought a new stake in Ingredion during the second quarter worth $40,000. Finally, Costello Asset Management INC bought a new stake in Ingredion during the first quarter worth $41,000. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INGR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Ingredion in a report on Wednesday, October 8th. UBS Group lowered their target price on Ingredion from $144.00 to $130.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Finally, Wall Street Zen lowered Ingredion from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $147.20.

Ingredion Stock Performance

Shares of INGR opened at $120.47 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. Ingredion Incorporated has a 1 year low of $118.56 and a 1 year high of $155.44. The firm has a market cap of $7.73 billion, a PE ratio of 11.75, a PEG ratio of 0.96 and a beta of 0.74. The stock's fifty day moving average price is $124.76 and its two-hundred day moving average price is $131.06.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company posted $2.87 EPS. The firm'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. On average, equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid 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 is Wednesday, October 1st. This is a positive change from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is presently 32.00%.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 36,287 shares of the business's 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 sale, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the business's 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 sale, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is currently 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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