Fox Run Management L.L.C. Buys Shares of 11,850 Ingredion Incorporated $INGR

Fox Run Management L.L.C. purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,850 shares of the company’s stock, valued at approximately $1,607,000.

Several other institutional investors and hedge funds have also made changes to their positions in INGR. Metis Global Partners LLC increased its holdings in Ingredion by 28.1% during the 2nd quarter. Metis Global Partners LLC now owns 5,539 shares of the company’s stock valued at $751,000 after acquiring an additional 1,214 shares in the last quarter. Savant Capital LLC grew its position in shares of Ingredion by 25.1% in the second quarter. Savant Capital LLC now owns 9,382 shares of the company’s stock valued at $1,272,000 after purchasing an additional 1,880 shares during the last quarter. J. W. Coons Advisors LLC increased its stake in shares of Ingredion by 205.1% during the 2nd quarter. J. W. Coons Advisors LLC now owns 5,852 shares of the company’s stock worth $794,000 after purchasing an additional 3,934 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ingredion by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock worth $99,822,000 after purchasing an additional 8,681 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in Ingredion by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 15,488 shares of the company’s stock valued at $2,100,000 after buying an additional 100 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INGR. Stephens cut their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday. Weiss Ratings cut Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Barclays restated an “equal weight” rating and issued a $124.00 target price (down from $168.00) on shares of Ingredion in a report on Thursday. BMO Capital Markets cut their price objective on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Zacks Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $124.33.

Ingredion Trading Up 2.0%

NYSE INGR opened at $108.53 on Friday. Ingredion Incorporated has a 12 month low of $102.31 and a 12 month high of $152.22. The company has a 50-day moving average of $120.81 and a 200-day moving average of $129.41. 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 company has a market cap of $6.97 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.95 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.02. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, equities analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio is presently 32.70%.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Ingredion 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.