Patriot Financial Group Insurance Agency LLC Buys 509 Shares of Ingredion Incorporated $INGR

Patriot Financial Group Insurance Agency LLC grew its stake in Ingredion Incorporated (NYSE:INGR) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,531 shares of the company’s stock after purchasing an additional 509 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Ingredion were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Ingredion in the 1st quarter valued at approximately $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Ingredion in the 1st quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew 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 purchasing an additional 80 shares during the period. Costello Asset Management INC bought a new stake in shares of Ingredion in the 1st quarter valued at approximately $41,000. Finally, SouthState Corp bought a new stake in Ingredion during the 1st quarter worth approximately $41,000. 85.27% of the stock is currently owned by institutional investors.

Ingredion Stock Up 1.1%

Shares of INGR opened at $120.91 on Friday. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.96 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. The business’s fifty day moving average price is $126.13 and its two-hundred day moving average price is $131.75. Ingredion Incorporated has a 52 week low of $119.31 and a 52 week high of $155.44.

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

Ingredion Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.7%. Ingredion’s dividend payout ratio (DPR) is currently 32.00%.

Analyst Upgrades and Downgrades

INGR has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Ingredion in a research report on Saturday, September 27th. Wall Street Zen upgraded Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, UBS Group increased their price target on Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $151.40.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 850 shares of the stock in a transaction on Monday, August 4th. The stock was 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 of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the transaction, the chief executive officer directly 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. In the last three months, insiders sold 37,137 shares of company stock worth $4,700,163. 2.30% of the stock is currently owned by company insiders.

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.