Acadian Asset Management LLC Sells 166,067 Shares of Ingredion Incorporated $INGR

Acadian Asset Management LLC lowered its holdings in Ingredion Incorporated (NYSE:INGR) by 27.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,876 shares of the company’s stock after selling 166,067 shares during the quarter. Acadian Asset Management LLC owned 0.68% of Ingredion worth $59,329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Ingredion in the first quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Ingredion in the first quarter valued at about $32,000. Ameriflex Group Inc. bought a new stake in Ingredion in the fourth quarter valued at about $33,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Ingredion by 40.2% during 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 during the last quarter. Finally, Costello Asset Management INC bought a new stake in Ingredion during the first quarter worth about $41,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares in the company, valued at approximately $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the transaction, the senior vice president owned 31,171 shares in the company, valued at $4,002,044.69. This represents a 2.65% decrease in their ownership of the stock. 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. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group upped their price objective on shares of Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $151.40.

Ingredion Price Performance

Shares of INGR stock opened at $125.99 on Thursday. Ingredion Incorporated has a 1 year low of $120.51 and a 1 year high of $155.44. The firm’s 50 day moving average is $130.34 and its 200-day moving average is $132.79. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.02 and a beta of 0.77. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR) last announced its earnings results 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. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business earned $2.87 earnings per share. 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. Sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.82 per share. The ex-dividend date 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 currently 31.22%.

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.