Insider Selling: Ingredion Incorporated (NYSE:INGR) CEO Sells 371 Shares of Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 371 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ingredion Stock Up 0.7 %

INGR opened at $134.38 on Tuesday. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $138.37. The stock has a market cap of $8.82 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.22 and a beta of 0.72. The stock’s 50 day moving average price is $133.55 and its 200 day moving average price is $122.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $2.32 EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, research analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.38%. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

Institutional Investors Weigh In On Ingredion

Several large investors have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of Ingredion by 5.5% during the 3rd quarter. Creative Planning now owns 11,203 shares of the company’s stock worth $1,540,000 after acquiring an additional 584 shares in the last quarter. CX Institutional bought a new stake in shares of Ingredion during the 3rd quarter worth $5,277,000. Ritholtz Wealth Management boosted its stake in shares of Ingredion by 55.3% during the 3rd quarter. Ritholtz Wealth Management now owns 11,333 shares of the company’s stock worth $1,557,000 after acquiring an additional 4,036 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Ingredion during the 3rd quarter worth $453,000. Finally, West Coast Financial LLC purchased a new position in Ingredion in the third quarter valued at about $4,582,000. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on INGR shares. UBS Group increased their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets increased their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Oppenheimer increased their target price on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Ingredion Company Profile

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.