Y Intercept Hong Kong Ltd Invests $572,000 in Ingredion Incorporated $INGR

Y Intercept Hong Kong Ltd purchased a new position in Ingredion Incorporated (NYSE:INGR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,218 shares of the company’s stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Ingredion by 4.3% in the second quarter. Envestnet Asset Management Inc. now owns 202,614 shares of the company’s stock worth $27,479,000 after acquiring an additional 8,264 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Ingredion by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 43,727 shares of the company’s stock valued at $5,930,000 after purchasing an additional 438 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its position in Ingredion by 7.8% in the second quarter. Focus Partners Advisor Solutions LLC now owns 2,084 shares of the company’s stock worth $283,000 after purchasing an additional 150 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Ingredion by 176.2% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,193 shares of the company’s stock valued at $1,789,000 after purchasing an additional 8,416 shares in the last quarter. Finally, Ethic Inc. grew its position in Ingredion by 3.8% in the second quarter. Ethic Inc. now owns 18,054 shares of the company’s stock worth $2,453,000 after acquiring an additional 665 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the subject of a number of research reports. Industrial Alliance Securities set a $124.00 price target on Ingredion in a report on Thursday. Zacks Research downgraded Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Barclays reaffirmed an “equal weight” rating and issued a $124.00 price objective (down from $168.00) on shares of Ingredion in a report on Thursday. Stephens cut their price target on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Wall Street Zen cut Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.33.

Ingredion Stock Down 1.2%

Ingredion stock opened at $106.43 on Friday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.95 and a beta of 0.72. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $121.23 and a two-hundred day moving average of $129.55. Ingredion Incorporated has a twelve month low of $102.31 and a twelve month high of $152.48.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.90 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, research analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Wednesday, October 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. Ingredion’s payout ratio is 32.70%.

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. The trade was a 41.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.