Russell Investments Group Ltd. Lowers Position in Ingredion Incorporated $INGR

Key Points

• Russell Investments Group Ltd. reduced its stake in Ingredion Incorporated by 15.3%, selling 30,738 shares and now owning 169,794 shares worth approximately $22.96 million.
• Ingredion's recent earnings report showed earnings per share (EPS) of $2.87, beating estimates, although revenues fell 2.4% compared to last year.
• The company's quarterly dividend was set at $0.80 per share, representing a 2.5% yield, with a payout ratio of 31.22%.

Russell Investments Group Ltd. reduced its stake in Ingredion Incorporated (NYSE:INGR - Free Report) by 15.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,794 shares of the company's stock after selling 30,738 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Ingredion worth $22,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion during the 1st quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ingredion during the 1st quarter valued at $32,000. Ameriflex Group Inc. purchased a new stake in shares of Ingredion during the 4th quarter valued at $33,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Ingredion by 40.2% during the 1st 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 during the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Ingredion during the 1st quarter valued at $41,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

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 stock was 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 of the company's stock, valued at $4,002,044.69. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 36,287 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value 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. The trade was a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group increased their price target on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ingredion has an average rating of "Hold" and an average price target of $151.40.

Ingredion Price Performance

NYSE INGR traded up $1.11 during trading hours on Thursday, hitting $127.86. The company had a trading volume of 62,032 shares, compared to its average volume of 521,458. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44. The firm has a 50 day simple moving average of $133.00 and a 200 day simple moving average of $132.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.01 and a beta of 0.71.

Ingredion (NYSE:INGR - Get Free Report) last issued its 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. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $2.87 EPS. 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. Equities research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

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.