Ingredion Incorporated (NYSE:INGR) Shares Bought by Advisor Group Holdings Inc.

Posted by Defense World Staff on Jun 4th, 2023

Advisor Group Holdings Inc. increased its position in shares of Ingredion Incorporated (NYSE:INGR – Get Rating) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,743 shares of the company’s stock after purchasing an additional 3,753 shares during the period. Advisor Group Holdings Inc. owned 0.05% of Ingredion worth $3,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INGR. Vanguard Group Inc. lifted its holdings in shares of Ingredion by 0.7% in the third quarter. Vanguard Group Inc. now owns 7,030,024 shares of the company’s stock valued at $566,057,000 after buying an additional 46,092 shares during the period. BlackRock Inc. boosted its position in shares of Ingredion by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock valued at $504,608,000 after purchasing an additional 107,110 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ingredion by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,473,080 shares of the company’s stock worth $242,189,000 after purchasing an additional 75,279 shares during the last quarter. State Street Corp raised its holdings in shares of Ingredion by 7.1% in the 1st quarter. State Street Corp now owns 2,364,523 shares of the company’s stock worth $207,518,000 after purchasing an additional 155,995 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Ingredion by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,443,437 shares of the company’s stock valued at $116,226,000 after purchasing an additional 10,539 shares during the last quarter. 85.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James D. Gray sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $104.90, for a total value of $524,500.00. Following the completion of the sale, the chief financial officer now owns 32,960 shares of the company’s stock, valued at approximately $3,457,504. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO James D. Gray sold 5,000 shares of Ingredion stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $104.90, for a total value of $524,500.00. Following the completion of the sale, the chief financial officer now owns 32,960 shares of the company’s stock, valued at approximately $3,457,504. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 1,746 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $108.61, for a total transaction of $189,633.06. Following the transaction, the senior vice president now directly owns 20,246 shares in the company, valued at $2,198,918.06. The disclosure for this sale can be found here. Insiders have sold a total of 7,911 shares of company stock valued at $842,490 in the last three months. Insiders own 1.68% of the company’s stock.

Ingredion Trading Up 1.9 %

Shares of NYSE INGR opened at $107.51 on Friday. The firm has a market capitalization of $7.10 billion, a PE ratio of 13.00 and a beta of 0.77. Ingredion Incorporated has a one year low of $78.81 and a one year high of $113.46. The company has a current ratio of 1.80, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $105.97 and a two-hundred day moving average price of $101.47.

Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.79. Ingredion had a net margin of 6.75% and a return on equity of 17.51%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $1.95 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that Ingredion Incorporated will post 9.05 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, July 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $2.84 dividend on an annualized basis and a yield of 2.64%. Ingredion’s dividend payout ratio (DPR) is currently 34.34%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INGR. UBS Group raised Ingredion from a “neutral” rating to a “buy” rating and upped their price target for the company from $105.00 to $121.00 in a report on Thursday, April 13th. StockNews.com began coverage on Ingredion in a report on Thursday, May 18th. They set a “buy” rating for the company. Stephens reiterated an “overweight” rating and issued a $120.00 price target on shares of Ingredion in a research report on Friday, March 17th. BMO Capital Markets boosted their price objective on Ingredion from $115.00 to $123.00 in a report on Thursday, May 4th. Finally, Credit Suisse Group raised their target price on shares of Ingredion from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $118.40.

Ingredion Company Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.