Intech Investment Management LLC Grows Stock Position in Ingredion Incorporated $INGR

Intech Investment Management LLC raised its position in Ingredion Incorporated (NYSE:INGR) by 112.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,733 shares of the company’s stock after acquiring an additional 25,840 shares during the quarter. Intech Investment Management LLC’s holdings in Ingredion were worth $6,609,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion in the first quarter valued at $32,000. Hantz Financial Services Inc. lifted its holdings in Ingredion by 810.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $35,000 after buying an additional 227 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in 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 buying an additional 80 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Ingredion during the second quarter valued at about $40,000. Finally, Costello Asset Management INC purchased a new stake in shares of Ingredion during the first quarter worth about $41,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on INGR. Weiss Ratings downgraded Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Industrial Alliance Securities set a $124.00 target price on Ingredion in a research report on Thursday, November 6th. UBS Group decreased their price target on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Zacks Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $124.33.

Ingredion Stock Performance

INGR stock opened at $107.80 on Monday. 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 $6.85 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.95 and a beta of 0.72. Ingredion Incorporated has a 12-month low of $102.31 and a 12-month high of $150.00. The stock’s 50 day simple moving average is $118.78 and its 200 day simple moving average is $128.57.

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

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were issued a $0.82 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. Ingredion’s dividend payout ratio (DPR) is presently 32.70%.

Ingredion 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.