Ingredion Incorporated $INGR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,081,809 shares of the company’s stock after selling 122,538 shares during the quarter. Allianz Asset Management GmbH owned about 1.68% of Ingredion worth $146,715,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CEO James P. Zallie sold 36,287 shares of the business’s stock in a transaction dated 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 $6,342,321.08. The trade was a 41.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their position. 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 over the last three months. Insiders own 2.30% of the company’s stock.

Ingredion Stock Performance

NYSE:INGR opened at $120.47 on Thursday. Ingredion Incorporated has a 12-month low of $118.56 and a 12-month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $7.73 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.96 and a beta of 0.74. The firm has a 50-day moving average price of $124.76 and a 200 day moving average price of $131.06.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.87 earnings per share. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Research analysts anticipate that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

Analysts Set New Price Targets

INGR has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ingredion in a report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.20.

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.