Sciencast Management LP Decreases Position 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 lessened its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INGR. Allianz Asset Management GmbH increased its position in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company's stock valued at $162,840,000 after acquiring an additional 361,584 shares during the last quarter. Millennium Management LLC grew its holdings in Ingredion by 1,093.5% during the first quarter. Millennium Management LLC now owns 365,693 shares of the company's stock valued at $49,445,000 after purchasing an additional 335,052 shares during the period. Northern Trust Corp grew its holdings in Ingredion by 37.0% during the first 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 grew its holdings in Ingredion by 333.9% during the first 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 grew its holdings in Ingredion by 766.7% during the first 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. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the business'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 completion of the sale, the senior vice president owned 31,171 shares in the company, valued at $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. Insiders sold 37,137 shares of company stock worth $4,700,163 over the last quarter. 2.30% of the stock is owned by company insiders.

Ingredion Price Performance

Shares of NYSE INGR traded down $0.63 during mid-day trading on Friday, reaching $126.25. The company's stock had a trading volume of 330,125 shares, compared to its average volume of 412,883. The firm has a market capitalization of $8.10 billion, a PE ratio of 12.32, a P/E/G ratio of 1.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The stock has a fifty day moving average of $129.91 and a two-hundred day moving average of $132.72. Ingredion Incorporated has a 52 week low of $120.51 and a 52 week high of $155.44.

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

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be given a $0.82 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Ingredion's dividend payout ratio (DPR) is presently 31.22%.

Wall Street Analysts Forecast Growth

INGR has been the subject of several recent research reports. UBS Group boosted their price target on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.