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VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $25.33 Million Investment in Ingredion Incorporated $INGR

Ingredion logo with Consumer Staples background

Key Points

  • Virginia Retirement Systems made a new investment of $25.33 million in Ingredion Incorporated, acquiring approximately 186,800 shares during the second quarter.
  • Ingredion recently announced a dividend increase to $0.82 per share, up from $0.80, with a payout scheduled for October 21st, resulting in a 2.7% yield.
  • The company's latest earnings report showed a beat on EPS estimates at $2.87, but revenue was down 2.4% year-over-year, coming in at $1.83 billion, lower than analysts' expectations.
  • MarketBeat previews the top five stocks to own by November 1st.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,800 shares of the company's stock, valued at approximately $25,334,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.29% of Ingredion at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INGR. Alpine Bank Wealth Management bought a new stake in Ingredion during the first quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Ingredion during the first quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after buying an additional 80 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Ingredion during the second quarter worth about $40,000. Finally, Costello Asset Management INC bought a new stake in Ingredion during the first quarter worth about $41,000. 85.27% of the stock is owned by institutional investors.

Ingredion Trading Up 0.8%

Shares of NYSE INGR opened at $121.46 on Monday. The company's 50 day simple moving average is $124.54 and its 200 day simple moving average is $130.78. Ingredion Incorporated has a fifty-two week low of $118.56 and a fifty-two week high of $155.44. The firm has a market capitalization of $7.79 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81.

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

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be issued a $0.82 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, October 1st. Ingredion's dividend payout ratio (DPR) is currently 32.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INGR shares. 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. Weiss Ratings reissued a "buy (b)" rating on shares of Ingredion in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Ingredion from a "hold" rating to a "buy" rating in a research note on Sunday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $147.20.

Check Out Our Latest Analysis on Ingredion

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 50,129 shares in the company, 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 SEC, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the stock in a transaction on 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 sale, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,137 shares of company stock worth $4,700,163. Company insiders own 1.80% of the company's stock.

Ingredion Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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