Ingredion Incorporated $INGR Stock Holdings Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,700 shares of the company’s stock after selling 38,600 shares during the quarter. Ingredion accounts for 1.6% of Hennessy Advisors Inc.’s portfolio, making the stock its 13th largest position. Hennessy Advisors Inc.’s holdings in Ingredion were worth $47,426,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jump Financial LLC lifted its position in shares of Ingredion by 474.2% in the first quarter. Jump Financial LLC now owns 11,501 shares of the company’s stock worth $1,555,000 after purchasing an additional 9,498 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Ingredion in the first quarter worth approximately $646,000. Jupiter Asset Management Ltd. lifted its position in shares of Ingredion by 38.2% in the first quarter. Jupiter Asset Management Ltd. now owns 342,190 shares of the company’s stock worth $46,268,000 after purchasing an additional 94,575 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Ingredion by 8.4% in the first quarter. Brown Advisory Inc. now owns 2,318 shares of the company’s stock worth $313,000 after purchasing an additional 180 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its position in Ingredion by 156.7% during the first quarter. Transcend Capital Advisors LLC now owns 11,086 shares of the company’s stock valued at $1,499,000 after acquiring an additional 6,768 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INGR. Wall Street Zen raised shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ingredion in a research report on Saturday, September 27th. Finally, UBS Group raised their price objective on shares of Ingredion from $149.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.40.

Ingredion Trading Up 1.1%

Shares of INGR stock opened at $120.91 on Friday. Ingredion Incorporated has a 12 month low of $119.31 and a 12 month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $126.13 and its two-hundred day moving average is $131.76. The company has a market cap of $7.76 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Friday, August 1st. The company reported $2.87 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company posted $2.87 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. Equities analysts predict that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.7%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, October 1st. Ingredion’s dividend payout ratio is 32.00%.

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the firm’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 sale, the senior vice president owned 31,171 shares in the company, valued at approximately $4,002,044.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the sale, the chief executive officer owned 50,129 shares in the company, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,137 shares of company stock worth $4,700,163. Corporate insiders own 2.30% of the company’s stock.

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.