EMC Capital Management Cuts Stock Holdings in Ingredion Incorporated $INGR

EMC Capital Management lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 53.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,434 shares of the company’s stock after selling 2,803 shares during the quarter. EMC Capital Management’s holdings in Ingredion were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC raised its stake in Ingredion by 22.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,064 shares of the company’s stock valued at $280,000 after purchasing an additional 379 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ingredion by 0.3% during the second quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock worth $985,533,000 after buying an additional 22,487 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ingredion by 2.9% in the second quarter. Empowered Funds LLC now owns 99,496 shares of the company’s stock valued at $13,414,000 after buying an additional 2,834 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Ingredion by 8.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 85,741 shares of the company’s stock worth $11,628,000 after buying an additional 6,453 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in Ingredion by 76.8% during the second quarter. Ontario Teachers Pension Plan Board now owns 45,759 shares of the company’s stock worth $6,206,000 after acquiring an additional 19,880 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on INGR. BMO Capital Markets cut their price objective on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Zacks Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Industrial Alliance Securities set a $124.00 target price on shares of Ingredion in a report on Thursday, November 6th. Finally, Stephens decreased their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ingredion presently has an average rating of “Hold” and a consensus target price of $124.33.

Ingredion Stock Performance

Shares of Ingredion stock opened at $107.47 on Wednesday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.78 and a quick ratio of 1.81. The business has a 50-day moving average of $117.96 and a 200 day moving average of $128.23. Ingredion Incorporated has a 12 month low of $102.31 and a 12 month high of $150.00.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, topping 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 9.24% and a return on equity of 19.04%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, sell-side analysts forecast that Ingredion Incorporated will post 11.14 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. This is a positive change from Ingredion’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, October 1st. Ingredion’s payout ratio is presently 32.70%.

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.