RBA Wealth Management LLC Invests $2.80 Million in Ingredion Incorporated $INGR

RBA Wealth Management LLC purchased a new stake in Ingredion Incorporated (NYSE:INGR) in the second quarter, Holdings Channel reports. The firm purchased 20,639 shares of the company’s stock, valued at approximately $2,799,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Retirement Guys Formula LLC raised its stake in shares of Ingredion by 5.7% in the first quarter. Retirement Guys Formula LLC now owns 1,566 shares of the company’s stock worth $212,000 after buying an additional 84 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Ingredion by 5.8% during the first quarter. Wealthspire Advisors LLC now owns 1,685 shares of the company’s stock valued at $228,000 after buying an additional 92 shares during the last quarter. Bell Investment Advisors Inc grew its position in Ingredion by 41.2% during the 1st 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 raised its position in shares of Ingredion by 4.3% during the 1st quarter. KBC Group NV now owns 2,624 shares of the company’s stock valued at $355,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Trading Up 0.0%

Ingredion stock opened at $121.07 on Friday. Ingredion Incorporated has a one year low of $120.48 and a one year high of $155.44. 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 stock has a market capitalization of $7.77 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77. The business’s fifty day moving average is $127.37 and its 200 day moving average is $132.13.

Ingredion (NYSE:INGR) last announced its earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $2.87 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, sell-side analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.82 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 1st. Ingredion’s payout ratio is presently 32.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INGR. UBS Group raised their target price on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ingredion has a consensus rating of “Hold” and an average target price of $151.40.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 850 shares of the company’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 transaction, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of Ingredion 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 transaction, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,137 shares of company stock worth $4,700,163 in the last ninety days. 2.30% of the stock is owned by corporate 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.