Voya Investment Management LLC Sells 25,070 Shares of Ingredion Incorporated $INGR

by · The Markets Daily

Voya Investment Management LLC lessened its stake in Ingredion Incorporated (NYSE:INGR – Free Report) by 18.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 110,864 shares of the company’s stock after selling 25,070 shares during the quarter. Voya Investment Management LLC’s holdings in Ingredion were worth $13,538,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Ingredion during the 2nd quarter worth $82,779,000. Millennium Management LLC raised its position in Ingredion by 1,093.5% during the first quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock valued at $49,445,000 after purchasing an additional 335,052 shares in the last quarter. Nordea Investment Management AB lifted 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 last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Ingredion in the 2nd quarter worth about $25,334,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Ingredion by 10.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,340,015 shares of the company’s stock valued at $181,733,000 after purchasing an additional 121,387 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Stephens cut their target price 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. Wall Street Zen lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Barclays reaffirmed an “equal weight” rating and set a $124.00 price objective (down from $168.00) on shares of Ingredion in a research note on Thursday, November 6th. UBS Group lowered their target price on Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ingredion in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $124.33.

Get Our Latest Research Report on Ingredion

Ingredion Trading Up 0.4%

INGR opened at $110.98 on Tuesday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.90 and a beta of 0.72. Ingredion Incorporated has a one year low of $102.31 and a one year high of $141.78. The business has a 50 day simple moving average of $111.53 and a two-hundred day simple moving average of $123.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.75 and a quick ratio of 1.79.

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

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Ingredion’s payout ratio is presently 32.70%.

Ingredion Company Profile

(Free Report)

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.

See Also

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