Spire Wealth Management Sells 648 Shares of Ingredion Incorporated $INGR

Spire Wealth Management cut its stake in Ingredion Incorporated (NYSE:INGR) by 67.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306 shares of the company’s stock after selling 648 shares during the quarter. Spire Wealth Management’s holdings in Ingredion were worth $42,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jump Financial LLC grew its holdings in Ingredion by 474.2% in the 1st quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock valued at $1,555,000 after buying an additional 9,498 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Ingredion by 38.2% in the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock valued at $46,268,000 after acquiring an additional 94,575 shares during the period. Nordea Investment Management AB boosted its position in shares of Ingredion by 66.3% in the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after acquiring an additional 288,201 shares during the period. Brown Advisory Inc. grew its stake in shares of Ingredion by 8.4% in the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after acquiring an additional 180 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new position in Ingredion during the second quarter worth about $232,000. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Industrial Alliance Securities set a $124.00 price objective on shares of Ingredion in a research note on Thursday. Barclays reaffirmed an “equal weight” rating and set a $124.00 target price (down from $168.00) on shares of Ingredion in a report on Thursday. BMO Capital Markets cut their price target on Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a research note on Wednesday. Weiss Ratings downgraded Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Oppenheimer set a $136.00 price objective on Ingredion in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ingredion has an average rating of “Hold” and an average target price of $124.33.

Ingredion Stock Performance

NYSE INGR opened at $106.43 on Friday. The firm’s 50 day simple moving average is $121.23 and its 200 day simple moving average is $129.55. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.95 and a beta of 0.72. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a 1 year low of $102.31 and a 1 year high of $152.48.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were given a dividend of $0.82 per share. The ex-dividend date was Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. This is an increase from Ingredion’s previous quarterly dividend of $0.80. Ingredion’s dividend payout ratio is currently 32.70%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of Ingredion 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 transaction, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by company insiders.

About Ingredion

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.