Shell Asset Management Co. Reduces Stock Position in Ingredion Incorporated $INGR

Shell Asset Management Co. cut its stake in Ingredion Incorporated (NYSE:INGR) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,035 shares of the company’s stock after selling 3,599 shares during the quarter. Shell Asset Management Co. owned about 0.14% of Ingredion worth $12,075,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Retirement Guys Formula LLC boosted its stake 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 acquiring an additional 84 shares in the last quarter. Wealthspire Advisors LLC boosted its stake 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 acquiring an additional 92 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in Ingredion by 41.2% in the first quarter. Bell Investment Advisors Inc now owns 346 shares of the company’s stock worth $47,000 after purchasing an additional 101 shares during the period. Finally, KBC Group NV increased its stake in shares of Ingredion by 4.3% during the first quarter. KBC Group NV now owns 2,624 shares of the company’s stock valued at $355,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the business’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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 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. Insiders have sold a total of 37,137 shares of company stock worth $4,700,163 in the last three months. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

INGR has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ingredion in a research report on Saturday, September 27th. UBS Group decreased their target price on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.20.

Ingredion Stock Down 0.4%

NYSE INGR opened at $120.40 on Tuesday. The stock has a 50 day moving average price of $125.90 and a 200-day moving average price of $131.68. 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 company has a market capitalization 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 one year low of $119.31 and a one year high of $155.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings data 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. The business had revenue of $1.83 billion during 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 firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal 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 paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion’s payout ratio is currently 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.