United Services Automobile Association Makes New Investment in Ingredion Incorporated $INGR

Key Points

• United Services Automobile Association has purchased new shares in Ingredion Incorporated, acquiring 4,267 shares valued at approximately $576,000 in the first quarter of the year.
• Ingredion has recently announced a quarterly dividend increase to $0.82 per share, up from $0.80, resulting in an annualized yield of 2.6%.
• The company's recent earnings report showed an earnings per share (EPS) of $2.87, exceeding expectations, despite a 2.4% decline in quarterly revenue compared to the previous year.

United Services Automobile Association bought a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,267 shares of the company's stock, valued at approximately $576,000.

A number of other institutional investors have also recently added to or reduced their stakes in INGR. Alpine Bank Wealth Management bought a new position in Ingredion in the 1st quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Ingredion in the 1st quarter worth $32,000. Ameriflex Group Inc. bought a new position in shares of Ingredion during the 4th quarter worth about $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in 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 acquired a new position in Ingredion in the first quarter valued at about $41,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

INGR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group upped their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $151.40.

Ingredion Stock Performance

Shares of INGR traded down $0.63 during midday trading on Friday, reaching $126.25. The stock had a trading volume of 330,125 shares, compared to its average volume of 412,883. The firm has a 50 day simple moving average of $129.91 and a 200-day simple moving average of $132.72. Ingredion Incorporated has a one year low of $120.51 and a one year high of $155.44. The firm has a market cap 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 current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data 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 company 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 firm 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. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is 31.22%.

Insider Transactions at Ingredion

In other news, 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 transaction of $4,591,031.24. Following the completion of the sale, the chief executive officer owned 50,129 shares in the company, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $109,131.50. Following the sale, the senior vice president owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is currently owned by corporate insiders.

About Ingredion

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.