Exchange Traded Concepts LLC Acquires 116 Shares of Ingredion Incorporated $INGR

Exchange Traded Concepts LLC raised its holdings in Ingredion Incorporated (NYSE:INGR) by 1.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,157 shares of the company’s stock after buying an additional 116 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ingredion were worth $835,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Ingredion by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock worth $372,594,000 after buying an additional 177,387 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Ingredion by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company’s stock worth $164,771,000 after buying an additional 22,333 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock worth $162,840,000 after buying an additional 361,584 shares during the last quarter. Northern Trust Corp boosted its position in shares of Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after purchasing an additional 265,263 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Ingredion by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company’s stock valued at $98,347,000 after purchasing an additional 45,631 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the business’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 completion of the transaction, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. The trade was 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 available through this link. Also, SVP Larry Fernandes sold 850 shares of the business’s 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 completion of the transaction, the senior vice president owned 31,171 shares of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,137 shares of company stock valued at $4,700,163 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Ingredion Stock Up 0.0%

Shares of NYSE:INGR opened at $122.11 on Wednesday. The stock has a fifty day simple moving average of $128.15 and a two-hundred day simple moving average of $132.38. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.98 and a beta of 0.77. Ingredion Incorporated has a 12-month low of $120.51 and a 12-month high of $155.44. 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) last announced 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 business 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 firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.87 earnings per share. 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 firm also recently declared 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. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. UBS Group lifted their price target on Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $151.40.

Ingredion Company 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.