Assenagon Asset Management S.A. Buys 5,028 Shares of Ingredion Incorporated $INGR

Assenagon Asset Management S.A. boosted its stake in Ingredion Incorporated (NYSE:INGR) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,275 shares of the company’s stock after buying an additional 5,028 shares during the period. Assenagon Asset Management S.A.’s holdings in Ingredion were worth $2,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vista Investment Management raised its position in shares of Ingredion by 0.8% in the 2nd quarter. Vista Investment Management now owns 10,789 shares of the company’s stock worth $1,463,000 after acquiring an additional 89 shares in the last quarter. Teza Capital Management LLC grew its stake in Ingredion by 4.2% in the second quarter. Teza Capital Management LLC now owns 2,275 shares of the company’s stock worth $309,000 after purchasing an additional 92 shares during the period. Amalgamated Bank grew its stake in Ingredion by 0.3% in the second quarter. Amalgamated Bank now owns 30,187 shares of the company’s stock worth $4,094,000 after purchasing an additional 93 shares during the period. State of Michigan Retirement System raised its holdings in Ingredion by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock worth $2,100,000 after purchasing an additional 100 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in Ingredion by 41.2% during the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock valued at $47,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INGR. Barclays restated an “equal weight” rating and set a $124.00 target price (down previously from $168.00) on shares of Ingredion in a report on Thursday, November 6th. Industrial Alliance Securities set a $124.00 price objective on shares of Ingredion in a research note on Thursday, November 6th. Oppenheimer set a $136.00 price objective on shares of Ingredion in a report on Wednesday, October 22nd. BMO Capital Markets decreased their target price on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ingredion in a research report on Monday, December 15th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Stock Up 0.4%

NYSE:INGR opened at $110.98 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.79 and a current ratio of 2.75. The firm has a market cap of $7.05 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.90 and a beta of 0.72. Ingredion Incorporated has a fifty-two week low of $102.31 and a fifty-two week high of $141.78. The firm has a 50-day simple moving average of $111.53 and a two-hundred day simple moving average of $123.33.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. Ingredion’s dividend payout ratio (DPR) is presently 32.70%.

About Ingredion

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.