Harbor Capital Advisors Inc. Has $1.06 Million Stock Holdings in Ingredion Incorporated $INGR

Harbor Capital Advisors Inc. reduced its position in Ingredion Incorporated (NYSE:INGR) by 72.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,703 shares of the company’s stock after selling 22,349 shares during the period. Harbor Capital Advisors Inc.’s holdings in Ingredion were worth $1,063,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Ingredion by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock valued at $985,533,000 after buying an additional 22,487 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Ingredion by 10.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,340,015 shares of the company’s stock valued at $181,733,000 after purchasing an additional 121,387 shares during the last quarter. First Trust Advisors LP boosted its position in Ingredion by 6.0% during the second quarter. First Trust Advisors LP now owns 982,704 shares of the company’s stock worth $133,274,000 after purchasing an additional 55,924 shares during the period. Invesco Ltd. increased its holdings in shares of Ingredion by 2.6% in the second quarter. Invesco Ltd. now owns 876,174 shares of the company’s stock valued at $118,827,000 after purchasing an additional 22,245 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Ingredion by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock valued at $99,822,000 after purchasing an additional 8,681 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Up 0.3%

Shares of NYSE:INGR opened at $111.40 on Friday. The firm has a market cap of $7.08 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.90 and a beta of 0.72. Ingredion Incorporated has a 12-month low of $102.31 and a 12-month high of $141.78. The business has a fifty day simple moving average of $110.74 and a 200 day simple moving average of $122.78. The company has a quick ratio of 1.79, a current ratio of 2.75 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.02. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.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 year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. Ingredion’s dividend payout ratio is 32.70%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INGR. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ingredion in a report on Monday, December 15th. UBS Group dropped their price target on Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. BMO Capital Markets lowered their target price on Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Finally, Zacks Research raised Ingredion from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.33.

Ingredion Company Profile

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.