Vest Financial LLC Acquires 12,460 Shares of Ingredion Incorporated $INGR

Vest Financial LLC grew its position in Ingredion Incorporated (NYSE:INGR) by 67.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,957 shares of the company’s stock after buying an additional 12,460 shares during the period. Vest Financial LLC’s holdings in Ingredion were worth $4,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jump Financial LLC raised its holdings in shares of 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 purchasing an additional 9,498 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Ingredion during the 1st quarter worth approximately $646,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Ingredion by 38.2% during the 1st 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 in the last quarter. Brown Advisory Inc. increased its position in Ingredion by 8.4% in the 1st quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock valued at $313,000 after acquiring an additional 180 shares during the period. Finally, Transcend Capital Advisors LLC raised its position in Ingredion by 156.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock worth $1,499,000 after purchasing an additional 6,768 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Up 0.3%

NYSE:INGR opened at $120.03 on Tuesday. The firm has a 50-day simple moving average of $124.95 and a two-hundred day simple moving average of $131.20. Ingredion Incorporated has a fifty-two week low of $119.31 and a fifty-two week high of $155.44. The firm has a market cap of $7.70 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The firm’s 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. Analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be paid a $0.82 dividend. This is an increase 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 of this dividend is Wednesday, October 1st. Ingredion’s payout ratio is currently 32.00%.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the business’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 completion of the transaction, the senior vice president directly owned 31,171 shares in the company, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the company’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 owned 50,129 shares in the company, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock valued at $4,700,163 over the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INGR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ingredion in a research note on Wednesday, October 8th. UBS Group dropped their price target on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Finally, Wall Street Zen lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.20.

Ingredion Company 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.