Sciencast Management LP Decreases Stock Holdings in Ingredion Incorporated $INGR

Key Points

• Sciencast Management LP reduced its holdings in Ingredion Incorporated by 24.8% during the first quarter, owning 8,608 shares after selling 2,844 shares.
• Insiders, including SVP Larry Fernandes and CEO James P. Zallie, sold a combined total of 37,137 shares of Ingredion stock recently, reflecting significant decreases in their ownership.
• Ingredion announced a quarterly dividend increase to $0.82 per share, representing an annualized dividend of $3.28 and a yield of 2.6%.

Sciencast Management LP trimmed its position in Ingredion Incorporated (NYSE:INGR - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,608 shares of the company's stock after selling 2,844 shares during the quarter. Sciencast Management LP's holdings in Ingredion were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in INGR. Allianz Asset Management GmbH increased its stake in shares of Ingredion by 42.9% in the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock worth $162,840,000 after buying an additional 361,584 shares during the period. Millennium Management LLC increased its stake in shares of Ingredion by 1,093.5% in the first quarter. Millennium Management LLC now owns 365,693 shares of the company's stock worth $49,445,000 after buying an additional 335,052 shares during the period. Northern Trust Corp increased its position in Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company's stock valued at $132,883,000 after purchasing an additional 265,263 shares during the period. Boston Partners increased its position in Ingredion by 333.9% during the 1st quarter. Boston Partners now owns 273,851 shares of the company's stock valued at $36,868,000 after purchasing an additional 210,737 shares during the period. Finally, Deutsche Bank AG increased its position in Ingredion by 766.7% during the 1st quarter. Deutsche Bank AG now owns 230,317 shares of the company's stock valued at $31,141,000 after purchasing an additional 203,742 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the company'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 transaction, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. The trade was a 41.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,137 shares of company stock worth $4,700,163. 1.80% of the stock is currently owned by company insiders.

Ingredion Stock Down 0.5%

Shares of INGR stock traded down $0.63 during mid-day trading on Friday, reaching $126.25. 330,125 shares of the company's stock traded hands, compared to its average volume of 410,874. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44. The company has a market cap of $8.10 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.01 and a beta of 0.77. 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 company's 50-day moving average price is $129.91 and its 200-day moving average price is $132.76.

Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the business posted $2.87 EPS. The company's quarterly revenue was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, equities analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.6%. 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 (DPR) is presently 31.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group boosted their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Two research 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.com, the company presently has a consensus rating of "Hold" and an average target price of $151.40.

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.