United Services Automobile Association Buys Shares of 4,267 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 Ingredion Incorporated (NYSE:INGR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,267 shares of the company's stock, valued at approximately $576,000.

Several other large investors have also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc boosted its stake in 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 purchasing an additional 101 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Ingredion by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company's stock valued at $13,712,000 after buying an additional 5,255 shares in the last quarter. Teza Capital Management LLC bought a new position in Ingredion during the first quarter valued at about $295,000. NewEdge Advisors LLC boosted its stake in Ingredion by 9.0% during the first quarter. NewEdge Advisors LLC now owns 9,687 shares of the company's stock valued at $1,310,000 after buying an additional 797 shares in the last quarter. Finally, Millennium Management LLC boosted its stake 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 buying an additional 335,052 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction on Tuesday, August 12th. The stock was 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 of the company's stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares of the company's stock, 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 three months, insiders have sold 37,137 shares of company stock valued at $4,700,163. Insiders own 1.80% of the company's stock.

Ingredion Stock Down 1.2%

INGR traded down $1.56 during trading on Monday, reaching $124.56. 123,893 shares of the stock traded hands, compared to its average volume of 514,930. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.01 and a beta of 0.77. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. 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's 50-day simple moving average is $129.91 and its two-hundred day simple moving average is $132.76.

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

Ingredion Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group raised their target price on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ingredion currently 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.