Sequoia Financial Advisors LLC Invests $781,000 in Ingredion Incorporated $INGR

Key Points

• Sequoia Financial Advisors LLC has invested approximately $781,000 in Ingredion Incorporated by purchasing 5,760 shares, marking a new position during the 2nd quarter.
• Ingredion's quarterly dividend will be $0.82 per share, reflecting an increase from the previous quarterly dividend of $0.80, and represents a 2.7% yield.
• Wall Street analysts have recently upgraded Ingredion's stock from a "hold" to a "buy" rating, with a consensus target price of $147.20.

Sequoia Financial Advisors LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,760 shares of the company's stock, valued at approximately $781,000.

A number of other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 buying an additional 80 shares in the last quarter. Retirement Guys Formula LLC lifted its stake in shares of Ingredion by 5.7% during the 1st quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after buying an additional 84 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Ingredion by 5.8% during the 1st quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock valued at $228,000 after buying an additional 92 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Ingredion by 41.2% during the 1st quarter. Bell Investment Advisors Inc now owns 346 shares of the company's stock valued at $47,000 after buying an additional 101 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Ingredion by 4.3% during the 1st quarter. KBC Group NV now owns 2,624 shares of the company's stock valued at $355,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings reiterated a "buy (b)" rating on shares of Ingredion in a research note on Wednesday, October 8th. Finally, UBS Group decreased their price target on shares of Ingredion from $144.00 to $130.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $147.20.

Insider Activity

In related news, SVP Larry Fernandes sold 850 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,137 shares of company stock worth $4,700,163 over the last quarter. 2.30% of the stock is currently owned by insiders.

Ingredion Stock Performance

Ingredion stock opened at $121.46 on Friday. The company's 50-day moving average price is $124.54 and its 200-day moving average price is $130.82. Ingredion Incorporated has a twelve month low of $118.56 and a twelve month high of $155.44. 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 has a market cap of $7.80 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.74.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results 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. 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 the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $2.87 EPS. The business'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 research analysts forecast that Ingredion Incorporated will post 11.14 EPS 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 issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a 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 payout ratio is currently 32.00%.

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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