Assetmark Inc. Has $87.37 Million Stock Position in Ingredion Incorporated $INGR

by · The Cerbat Gem

Assetmark Inc. lifted its position in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 11.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 644,210 shares of the company’s stock after buying an additional 67,364 shares during the quarter. Assetmark Inc. owned about 1.00% of Ingredion worth $87,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Ingredion during the first quarter worth $32,000. Hantz Financial Services Inc. increased its position in shares of Ingredion by 810.7% in the second quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 227 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Ingredion by 40.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock worth $38,000 after purchasing an additional 80 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Ingredion in the second quarter worth $40,000. Finally, Costello Asset Management INC bought a new position in shares of Ingredion in the first quarter worth $41,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the sale, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 850 shares of Ingredion stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the sale, the senior vice president directly owned 31,171 shares in the company, valued at $4,002,044.69. The trade was a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,137 shares of company stock worth $4,700,163 over the last three months. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INGR shares. Wall Street Zen upgraded Ingredion from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. UBS Group decreased their price target on Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Weiss Ratings cut Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Oppenheimer set a $136.00 price target on Ingredion in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ingredion has a consensus rating of “Hold” and an average target price of $143.40.

Get Our Latest Research Report on Ingredion

Ingredion Stock Performance

Ingredion stock opened at $115.73 on Thursday. Ingredion Incorporated has a 12-month low of $115.44 and a 12-month high of $155.44. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $123.33 and its two-hundred day moving average price is $130.33. The stock has a market cap of $7.43 billion, a PE ratio of 11.29, a P/E/G ratio of 0.96 and a beta of 0.74.

Ingredion (NYSE:INGR – Get Free Report) last released its earnings results on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $2.87 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. As a group, analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st were given a $0.82 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.00%.

Ingredion Profile

(Free Report)

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.

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