Sequoia Financial Advisors LLC Purchases New Holdings in Ingredion Incorporated $INGR

Sequoia Financial Advisors LLC bought a new position in Ingredion Incorporated (NYSE:INGR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,760 shares of the company’s stock, valued at approximately $781,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vest Financial LLC grew its stake in Ingredion by 67.4% in the 2nd quarter. Vest Financial LLC now owns 30,957 shares of the company’s stock worth $4,198,000 after acquiring an additional 12,460 shares in the last quarter. CWM LLC grew its stake in Ingredion by 17.1% in the 2nd quarter. CWM LLC now owns 2,610 shares of the company’s stock worth $354,000 after acquiring an additional 381 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Ingredion by 13.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,405 shares of the company’s stock worth $1,682,000 after acquiring an additional 1,487 shares in the last quarter. Grace & White Inc. NY grew its stake in Ingredion by 0.4% in the 2nd quarter. Grace & White Inc. NY now owns 145,601 shares of the company’s stock worth $19,746,000 after acquiring an additional 600 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Ingredion by 12.6% in the 2nd quarter. Blue Trust Inc. now owns 1,018 shares of the company’s stock worth $138,000 after acquiring an additional 114 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on INGR shares. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group lowered their price target on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ingredion in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $147.20.

Ingredion Stock Up 0.8%

Shares of INGR stock opened at $121.46 on Friday. Ingredion Incorporated has a 1-year low of $118.56 and a 1-year high of $155.44. The stock’s fifty day moving average price is $124.54 and its 200 day moving average price is $130.82. 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 company 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.

Ingredion (NYSE:INGR) last announced its earnings results on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal 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 $0.82 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion’s dividend payout ratio is 32.00%.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 850 shares of the 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 $4,002,044.69. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the 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 $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 ninety days, insiders sold 37,137 shares of company stock valued at $4,700,163. Corporate insiders own 2.30% of the company’s stock.

About Ingredion

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.