Allspring Global Investments Holdings LLC Sells 38,932 Shares of Ingredion Incorporated $INGR

Allspring Global Investments Holdings LLC decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 56.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,444 shares of the company’s stock after selling 38,932 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ingredion were worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Retirement Guys Formula LLC grew its holdings in Ingredion by 5.7% during the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company’s stock worth $212,000 after buying an additional 84 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock worth $228,000 after buying an additional 92 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock worth $47,000 after buying an additional 101 shares in the last quarter. Finally, KBC Group NV grew its holdings in Ingredion by 4.3% during the first quarter. KBC Group NV now owns 2,624 shares of the company’s stock worth $355,000 after buying an additional 109 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INGR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ingredion in a research report on Wednesday, October 8th. 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 report on Monday, October 6th. Finally, Wall Street Zen raised shares of Ingredion from a “hold” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.20.

Ingredion Stock Up 0.1%

Shares of NYSE INGR opened at $121.57 on Tuesday. Ingredion Incorporated has a one year low of $118.56 and a one year high of $155.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The business’s fifty day moving average price is $124.45 and its 200-day moving average price is $130.72. The stock has a market capitalization of $7.80 billion, a PE ratio of 11.86, a P/E/G ratio of 0.96 and a beta of 0.74.

Ingredion (NYSE:INGR) last issued its earnings results on Friday, August 1st. The company reported $2.87 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $2.87 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be paid a $0.82 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $3.28 annualized dividend and a yield of 2.7%. This is an increase from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio is 32.00%.

Insider Activity

In other Ingredion news, 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 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. This trade represents a 41.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Larry Fernandes sold 850 shares of the firm’s stock in a transaction dated 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 approximately $4,002,044.69. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,137 shares of company stock valued at $4,700,163. 1.80% of the stock is owned by corporate insiders.

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.