Ingredion Incorporated $INGR Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 0.1% in the second quarter, HoldingsChannel reports. The firm owned 78,060 shares of the company’s stock after selling 109 shares during the period. New York State Teachers Retirement System’s holdings in Ingredion were worth $10,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Ingredion by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock valued at $372,594,000 after purchasing an additional 177,387 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Ingredion by 1.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company’s stock valued at $164,771,000 after purchasing an additional 22,333 shares during the period. Allianz Asset Management GmbH lifted its position in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after purchasing an additional 361,584 shares during the period. Northern Trust Corp lifted its position in Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after purchasing an additional 265,263 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Ingredion by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 727,365 shares of the company’s stock valued at $98,347,000 after purchasing an additional 45,631 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Larry Fernandes sold 850 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total transaction of $109,131.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,137 shares of company stock valued at $4,700,163. Insiders own 2.30% of the company’s stock.

Ingredion Stock Up 0.8%

INGR opened at $121.46 on Friday. Ingredion Incorporated has a fifty-two week low of $118.56 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78. The company has a fifty day moving average of $124.54 and a two-hundred day moving average of $130.82. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.96 and a beta of 0.74.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. 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 year.

Ingredion Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on INGR. Wall Street Zen upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group decreased their target price 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 report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $147.20.

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.