Wellington Management Group LLP Has $14.33 Million Holdings in Ingredion Incorporated $INGR

Key Points

• Wellington Management Group LLP reduced its stake in Ingredion by 3.0%, owning 106,016 shares valued at approximately $14.3 million as of the latest quarter.
• Ingredion's quarterly earnings report showed an EPS of $2.87, surpassing estimates, but revenue declined 2.4% year-over-year.
• Hedge funds and institutional investors control 85.27% of Ingredion's stock, with recent fluctuations in holdings from various financial institutions.

Wellington Management Group LLP lowered its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,016 shares of the company's stock after selling 3,309 shares during the quarter. Wellington Management Group LLP owned 0.16% of Ingredion worth $14,334,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INGR. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion during the first quarter valued at $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ingredion during the first quarter valued at $32,000. Ameriflex Group Inc. purchased a new stake in shares of Ingredion during the fourth quarter valued at $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of 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 purchasing an additional 80 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Ingredion during the first quarter valued at $41,000. Institutional investors own 85.27% of the company's stock.

Ingredion Trading Up 0.4%

Shares of NYSE INGR traded up $0.49 during midday trading on Friday, hitting $129.54. The stock had a trading volume of 439,732 shares, compared to its average volume of 450,213. The company's 50-day simple moving average is $131.74 and its 200 day simple moving average is $132.74. The firm has a market cap of $8.31 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. 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.

Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The company 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 period last year, the firm earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The company 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 $0.82 dividend. This is an increase from Ingredion's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 2.5%. Ingredion's payout ratio is 31.22%.

Insider Buying and Selling at Ingredion

In other 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 value of $4,591,031.24. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction on Monday, August 4th. The stock was 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. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,137 shares of company stock valued at $4,700,163 over the last three months. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group upped their target price on Ingredion from $149.00 to $151.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $151.40.

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.