Farther Finance Advisors LLC Raises Stock Holdings in Ingredion Incorporated $INGR

Farther Finance Advisors LLC raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 58.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,597 shares of the company’s stock after acquiring an additional 591 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ingredion were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in INGR. Allianz Asset Management GmbH raised its holdings in shares of Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after acquiring an additional 361,584 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ingredion by 1,093.5% during the first quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock valued at $49,445,000 after acquiring an additional 335,052 shares during the last quarter. Northern Trust Corp raised its holdings 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 acquiring an additional 265,263 shares during the last quarter. Boston Partners raised its holdings in shares of Ingredion by 333.9% during the first quarter. Boston Partners now owns 273,851 shares of the company’s stock valued at $36,868,000 after acquiring an additional 210,737 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Ingredion by 766.7% during the first quarter. Deutsche Bank AG now owns 230,317 shares of the company’s stock valued at $31,141,000 after acquiring an additional 203,742 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction that occurred 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 directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Larry Fernandes sold 850 shares of the 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 completion of the transaction, the senior vice president owned 31,171 shares of the company’s stock, valued at $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. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on INGR. Wall Street Zen raised Ingredion from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. UBS Group increased 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. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $151.40.

Ingredion Trading Down 0.4%

Shares of Ingredion stock opened at $121.62 on Thursday. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.98 and a beta of 0.74. Ingredion Incorporated has a fifty-two week low of $120.08 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The stock has a 50 day moving average of $126.64 and a 200 day moving average of $131.93.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

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