Voya Investment Management LLC Has $18.62 Million Stock Position in Ingredion Incorporated $INGR

Key Points

• Voya Investment Management increased its stake in Ingredion Incorporated by 14.8%, holding 137,701 shares worth approximately $18.62 million after purchasing additional shares.
• Several institutional investors, including Allianz Asset Management and Millennium Management, also significantly raised their stakes in Ingredion during the same period, reflecting growing confidence in the company.
• Ingredion's recent quarterly earnings beat estimates with an EPS of $2.87, and the company announced an increase in its quarterly dividend to $0.82 per share.

Voya Investment Management LLC boosted its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,701 shares of the company's stock after acquiring an additional 17,730 shares during the period. Voya Investment Management LLC owned approximately 0.21% of Ingredion worth $18,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased 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 valued at $38,000 after acquiring an additional 80 shares during the period. Waverly Advisors LLC increased its stake in Ingredion by 3.8% during the fourth quarter. Waverly Advisors LLC now owns 2,303 shares of the company's stock valued at $317,000 after acquiring an additional 84 shares during the period. Retirement Guys Formula LLC increased its stake in Ingredion by 5.7% during the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company's stock valued at $212,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC increased its stake in Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company's stock valued at $228,000 after acquiring an additional 92 shares during the period. Finally, Bell Investment Advisors Inc increased its stake in Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company's stock valued at $47,000 after acquiring an additional 101 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the company's 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,137 shares of company stock worth $4,700,163. Company insiders own 2.30% of the company's stock.

Ingredion Price Performance

Shares of INGR traded down $1.68 on Friday, hitting $122.36. The company's stock had a trading volume of 1,308,235 shares, compared to its average volume of 455,601. The company has a market capitalization of $7.85 billion, a PE ratio of 11.94, a PEG ratio of 0.99 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. Ingredion Incorporated has a fifty-two week low of $120.51 and a fifty-two week high of $155.44. The company has a 50 day moving average price of $128.68 and a 200 day moving average price of $132.51.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $2.87 EPS. The business's revenue for the quarter 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, research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 annualized dividend and a yield of 2.7%. This is a positive change from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio (DPR) is currently 31.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INGR shares. UBS Group upped their price objective 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 upgraded Ingredion from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Ingredion 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.