Ingredion Incorporated $INGR Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its position in shares of Ingredion Incorporated (NYSE:INGR) by 66.3% during the second quarter, HoldingsChannel reports. The fund owned 722,933 shares of the company’s stock after acquiring an additional 288,201 shares during the quarter. Nordea Investment Management AB’s holdings in Ingredion were worth $97,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INGR. Alpine Bank Wealth Management acquired a new position in shares of Ingredion during the first quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ingredion during the first quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of 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 acquiring an additional 80 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Ingredion during the second quarter worth about $40,000. Finally, Costello Asset Management INC acquired a new position in shares of Ingredion during the first quarter worth about $41,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Trading Up 0.8%

Shares of INGR opened at $121.46 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. Ingredion Incorporated has a 1-year low of $118.56 and a 1-year high of $155.44. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.74. The firm has a 50 day simple moving average of $124.54 and a 200-day simple moving average of $130.82.

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 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 firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $2.87 EPS. The company’s quarterly revenue 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 forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The company 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 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 annualized dividend and a dividend yield of 2.7%. Ingredion’s payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

INGR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reiterated a “buy (b)” rating on shares of Ingredion in a research note on Wednesday, October 8th. Finally, UBS Group decreased their price objective on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus target price of $147.20.

Insider Activity at Ingredion

In related 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 owned 50,129 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, SVP Larry Fernandes sold 850 shares of the company’s 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 transaction, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. The trade was 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 in the last three months. Insiders own 2.30% of the company’s stock.

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.