Millennium Management LLC Buys 335,052 Shares of Ingredion Incorporated $INGR

Millennium Management LLC lifted its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1,093.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 365,693 shares of the company’s stock after acquiring an additional 335,052 shares during the period. Millennium Management LLC’s holdings in Ingredion were worth $49,445,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in shares of Ingredion during the first quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Ingredion in the 1st quarter valued at about $32,000. Ameriflex Group Inc. acquired a new position in Ingredion during the 4th quarter worth approximately $33,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 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 acquiring an additional 80 shares in the last quarter. Finally, Costello Asset Management INC acquired a new stake in Ingredion in the first quarter valued at approximately $41,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. The trade was 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 accessible through this link. Also, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction on Monday, August 4th. The shares were 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. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,137 shares of company stock worth $4,700,163 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Stock Performance

Shares of INGR stock opened at $128.08 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The firm has a 50-day moving average of $130.78 and a 200-day moving average of $132.88. Ingredion Incorporated has a one year low of $120.51 and a one year high of $155.44. The company has a market cap of $8.22 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.03 and a beta of 0.77.

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

Ingredion Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INGR shares. Wall Street Zen lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group boosted their price target on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Ingredion has an average rating of “Hold” and a consensus target price of $151.40.

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.