Ingredion Incorporated (NYSE:INGR) CFO Sells $12,022.20 in Stock

Ingredion Incorporated (NYSE:INGR) CFO James D. Gray sold 90 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $12,022.20. Following the transaction, the chief financial officer now directly owns 12,729 shares of the company’s stock, valued at approximately $1,700,339.82. 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 at this link.

Ingredion Trading Down 0.6 %

NYSE:INGR opened at $134.73 on Friday. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $138.37. The business’s 50-day moving average is $134.04 and its two-hundred day moving average is $122.55. 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 $8.84 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the business posted $2.32 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase 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 is 32.06%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets lifted 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. Oppenheimer upped their price target on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $137.33.

Institutional Investors Weigh In On Ingredion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC increased its position in shares of Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after acquiring an additional 9,577 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after buying an additional 21,619 shares during the last quarter. BNP Paribas acquired a new stake in shares of Ingredion during the first quarter worth approximately $1,154,000. Finally, Empowered Funds LLC bought a new stake in shares of Ingredion in the first quarter worth $1,812,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.