Ferguson Wellman Capital Management Inc. Lowers Stake in Ingredion Incorporated $INGR

Ferguson Wellman Capital Management Inc. lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,667 shares of the company’s stock after selling 160 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Ingredion were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INGR. Alpine Bank Wealth Management purchased a new position in shares of Ingredion in the first quarter worth $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion in the first quarter worth $32,000. Ameriflex Group Inc. purchased a new position in shares of Ingredion in the fourth quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ingredion by 40.2% in 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 in the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of Ingredion in the first quarter worth $41,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Two 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 “Hold” and an average price target of $151.40.

Insider Transactions at Ingredion

In related news, 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 value of $4,591,031.24. Following the completion of the sale, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares of the company’s stock, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,137 shares of company stock valued at $4,700,163. 2.30% of the stock is owned by insiders.

Ingredion Trading Up 0.1%

NYSE INGR opened at $124.02 on Friday. The company’s 50-day moving average price is $128.95 and its 200-day moving average price is $132.56. 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 stock has a market cap of $7.96 billion, a PE ratio of 12.10, a PEG ratio of 0.99 and a beta of 0.77. Ingredion Incorporated has a 12 month low of $120.51 and a 12 month high of $155.44.

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

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.6%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion’s payout ratio is currently 31.22%.

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.