Cookson Peirce & Co. Inc. Boosts Stock Position in Ingredion Incorporated $INGR

Cookson Peirce & Co. Inc. raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 23.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,244 shares of the company’s stock after purchasing an additional 1,174 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Ingredion were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Ingredion by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock valued at $372,594,000 after purchasing an additional 177,387 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Ingredion by 1.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company’s stock valued at $164,771,000 after purchasing an additional 22,333 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Ingredion by 42.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after purchasing an additional 361,584 shares during the last quarter. Northern Trust Corp grew its stake in Ingredion by 37.0% during the 1st quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after purchasing an additional 265,263 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Ingredion by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company’s stock valued at $98,347,000 after purchasing an additional 45,631 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Price Performance

NYSE:INGR opened at $120.27 on Thursday. Ingredion Incorporated has a 12 month low of $118.56 and a 12 month high of $155.44. The stock has a 50 day moving average of $124.17 and a two-hundred day moving average of $130.57. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.72 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Friday, August 1st. The company reported $2.87 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business earned $2.87 EPS. Ingredion’s quarterly revenue was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, analysts expect 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. This is an increase from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. This represents a $3.28 annualized dividend and a yield of 2.7%. Ingredion’s dividend payout ratio (DPR) is presently 32.00%.

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value of $4,591,031.24. Following the completion of the sale, the chief executive officer directly owned 50,129 shares in the company, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. 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 stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 31,171 shares of the company’s stock, valued at $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INGR shares. Wall Street Zen raised Ingredion from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group decreased their price objective on Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Ingredion in a report on Wednesday, October 8th. Finally, Oppenheimer set a $136.00 price objective on Ingredion in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.

About Ingredion

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.