Modern Wealth Management LLC Purchases 477 Shares of Ingredion Incorporated $INGR

Modern Wealth Management LLC boosted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 21.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,659 shares of the company’s stock after acquiring an additional 477 shares during the quarter. Modern Wealth Management LLC’s holdings in Ingredion were worth $360,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its position in Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after purchasing an additional 361,584 shares during the period. Millennium Management LLC lifted its position in Ingredion by 1,093.5% during the 1st quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock valued at $49,445,000 after purchasing an additional 335,052 shares during the period. Northern Trust Corp lifted its position in Ingredion by 37.0% during the 1st 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 during the period. Boston Partners lifted its position in Ingredion by 333.9% during the 1st quarter. Boston Partners now owns 273,851 shares of the company’s stock valued at $36,868,000 after purchasing an additional 210,737 shares during the period. Finally, Deutsche Bank AG lifted its position in Ingredion by 766.7% during the 1st quarter. Deutsche Bank AG now owns 230,317 shares of the company’s stock valued at $31,141,000 after purchasing an additional 203,742 shares during the period. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group increased their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ingredion currently has an average rating of “Hold” and an average target price of $151.40.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 36,287 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 37,137 shares of company stock valued at $4,700,163 in the last ninety days. Insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Shares of INGR opened at $126.25 on Monday. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $129.91 and a 200-day moving average of $132.76. The stock has a market capitalization of $8.10 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.01 and a beta of 0.77.

Ingredion (NYSE:INGR) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $2.87 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, equities research analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid a $0.82 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion’s dividend payout ratio (DPR) is 31.22%.

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.