Empowered Funds LLC Acquires 2,834 Shares of Ingredion Incorporated $INGR

Empowered Funds LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,496 shares of the company’s stock after purchasing an additional 2,834 shares during the period. Empowered Funds LLC’s holdings in Ingredion were worth $13,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INGR. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Ingredion by 8.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 85,741 shares of the company’s stock valued at $11,628,000 after buying an additional 6,453 shares during the period. Ontario Teachers Pension Plan Board increased its position in Ingredion by 76.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 45,759 shares of the company’s stock valued at $6,206,000 after purchasing an additional 19,880 shares during the period. Intech Investment Management LLC raised its holdings in Ingredion by 112.9% in the 2nd quarter. Intech Investment Management LLC now owns 48,733 shares of the company’s stock worth $6,609,000 after purchasing an additional 25,840 shares in the last quarter. Cetera Investment Advisers raised its holdings in Ingredion by 8.9% in the 2nd quarter. Cetera Investment Advisers now owns 12,462 shares of the company’s stock worth $1,690,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Ingredion by 15.3% in the 2nd quarter. Creative Planning now owns 14,015 shares of the company’s stock worth $1,901,000 after purchasing an additional 1,865 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

INGR has been the subject of a number of research reports. BMO Capital Markets decreased their price target on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Industrial Alliance Securities set a $124.00 target price on Ingredion in a report on Thursday, November 6th. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. UBS Group reduced their price target on Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.33.

Ingredion Stock Performance

Ingredion stock opened at $107.47 on Wednesday. Ingredion Incorporated has a twelve month low of $102.31 and a twelve month high of $150.00. 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 company has a market capitalization of $6.83 billion, a P/E ratio of 10.48, a PEG ratio of 0.95 and a beta of 0.72. The stock’s 50 day moving average is $117.96 and its 200 day moving average is $128.23.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 4th. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.73 by $0.02. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, equities research analysts predict that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

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

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.