Atlantic Edge Private Wealth Management LLC Buys 9,679 Shares of Ingredion Incorporated $INGR

Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 1,843.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,204 shares of the company’s stock after purchasing an additional 9,679 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Ingredion were worth $1,384,000 at the end of the most recent reporting period.

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

Ingredion Stock Up 0.1%

Shares of NYSE:INGR opened at $121.57 on Tuesday. The firm has a market cap of $7.80 billion, a P/E ratio of 11.86, a PEG ratio of 0.96 and a beta of 0.74. Ingredion Incorporated has a 52-week low of $118.56 and a 52-week high of $155.44. The business’s 50 day simple moving average is $124.45 and its two-hundred day simple moving average is $130.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78.

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

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. This is a boost from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 1st. Ingredion’s dividend payout ratio (DPR) is currently 32.00%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 850 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $128.39, for a total value of $109,131.50. Following the completion of the sale, the senior vice president directly owned 31,171 shares of the company’s stock, valued at $4,002,044.69. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 36,287 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,137 shares of company stock valued at $4,700,163. Company insiders own 1.80% 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.