US Bancorp DE Raises Stock Position in Ingredion Incorporated $INGR

US Bancorp DE grew its holdings in Ingredion Incorporated (NYSE:INGR) by 1.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,329 shares of the company’s stock after buying an additional 162 shares during the period. US Bancorp DE’s holdings in Ingredion were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Ingredion by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock valued at $372,594,000 after purchasing an additional 177,387 shares during the last quarter. Massachusetts Financial Services Co. MA lifted 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 purchasing an additional 22,333 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock worth $162,840,000 after acquiring an additional 361,584 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock worth $132,883,000 after acquiring an additional 265,263 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company’s stock worth $98,347,000 after acquiring an additional 45,631 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Larry Fernandes sold 850 shares of the firm’s 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 approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 36,287 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 50,129 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 37,137 shares of company stock worth $4,700,163. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group cut their price target on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ingredion in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.20.

Ingredion Stock Performance

NYSE:INGR opened at $120.47 on Thursday. The company’s 50-day moving average price is $124.76 and its 200-day moving average price is $131.06. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.73 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.96 and a beta of 0.74. Ingredion Incorporated has a twelve month low of $118.56 and a twelve month high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results 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 firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, sell-side analysts forecast 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 of this dividend is Wednesday, October 1st. Ingredion’s payout ratio is 32.00%.

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.