Massachusetts Financial Services Co. MA Boosts Stock Position in Ingredion Incorporated $INGR

Massachusetts Financial Services Co. MA raised its position in Ingredion Incorporated (NYSE:INGR) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369,448 shares of the company’s stock after purchasing an additional 29,433 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ingredion were worth $167,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INGR. Vanguard Group Inc. increased its stake in Ingredion by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock valued at $985,533,000 after purchasing an additional 22,487 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Ingredion by 6.0% in the second quarter. First Trust Advisors LP now owns 982,704 shares of the company’s stock worth $133,274,000 after acquiring an additional 55,924 shares during the last quarter. Invesco Ltd. grew its holdings in Ingredion by 2.6% in the second quarter. Invesco Ltd. now owns 876,174 shares of the company’s stock valued at $118,827,000 after purchasing an additional 22,245 shares during the period. Bank of New York Mellon Corp increased its position in Ingredion by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 736,046 shares of the company’s stock worth $99,822,000 after purchasing an additional 8,681 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Ingredion by 66.3% during the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock worth $97,531,000 after purchasing an additional 288,201 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Stephens dropped their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Barclays reaffirmed an “equal weight” rating and issued a $124.00 price objective (down from $168.00) on shares of Ingredion in a research note on Thursday, November 6th. Industrial Alliance Securities set a $124.00 target price on shares of Ingredion in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingredion in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.33.

Ingredion Stock Down 1.6%

Shares of NYSE:INGR opened at $114.92 on Tuesday. The company has a 50 day moving average of $110.08 and a two-hundred day moving average of $119.78. Ingredion Incorporated has a 52-week low of $102.31 and a 52-week high of $141.78. The company has a quick ratio of 1.79, a current ratio of 2.75 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.02. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 32.70%.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.