Ingredion Incorporated (NYSE:INGR) Shares Sold by Nicholas Hoffman & Company LLC.

30 Oct 2024, 11:53 by Kim Johansen · The Markets Daily

Nicholas Hoffman & Company LLC. trimmed its stake in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,845 shares of the company’s stock after selling 210 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Ingredion were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ingredion during the second quarter worth about $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the 2nd quarter valued at approximately $33,000. Family Firm Inc. purchased a new stake in shares of Ingredion in the second quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion during the second quarter worth $36,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingredion Trading Down 1.1 %

NYSE:INGR opened at $133.39 on Wednesday. Ingredion Incorporated has a 12 month low of $91.60 and a 12 month high of $138.37. The business’s 50-day moving average is $134.65 and its two-hundred day moving average is $123.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The firm has a market capitalization of $8.76 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $2.32 EPS. Ingredion’s revenue for the quarter was down 9.2% on a year-over-year basis. Research analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets raised their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Oppenheimer raised their price target on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and a consensus target price of $138.83.

Get Our Latest Stock Analysis on Ingredion

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,356 shares of company stock valued at $3,400,709 in the last ninety days. Insiders own 1.80% of the company’s stock.

About Ingredion

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