Exchange Traded Concepts LLC Raises Stake in Ingredion Incorporated $INGR

Exchange Traded Concepts LLC increased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,157 shares of the company’s stock after purchasing an additional 116 shares during the period. Exchange Traded Concepts LLC’s holdings in Ingredion were worth $835,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Jump Financial LLC raised its holdings in shares of Ingredion by 474.2% in the 1st quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after acquiring an additional 9,498 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Ingredion in the 1st quarter valued at about $646,000. Jupiter Asset Management Ltd. raised its holdings in shares of Ingredion by 38.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after acquiring an additional 94,575 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Ingredion by 8.4% in the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after acquiring an additional 180 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in shares of Ingredion by 156.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock valued at $1,499,000 after acquiring an additional 6,768 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

INGR has been the topic of several recent analyst reports. UBS Group raised their price target 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 raised Ingredion from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ingredion currently has an average rating of “Hold” and an average price target of $151.40.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This trade represents a 41.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,137 shares of company stock worth $4,700,163. 1.80% of the stock is owned by corporate insiders.

Ingredion Price Performance

INGR opened at $122.11 on Wednesday. The stock’s 50 day simple moving average is $128.15 and its 200 day simple moving average is $132.38. 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 1 year low of $120.51 and a 1 year high of $155.44. The firm has a market cap 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 (NYSE:INGR) last posted its quarterly earnings results 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 business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company earned $2.87 EPS. Ingredion’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. As a group, analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio 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.