Insider Selling: Ingredion Incorporated (NYSE:INGR) CEO Sells $134,020.00 in Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ingredion Price Performance

Shares of NYSE:INGR opened at $133.53 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. Ingredion Incorporated has a 12 month low of $89.54 and a 12 month high of $134.20. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The business’s 50 day simple moving average is $122.03 and its 200-day simple moving average is $117.84.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $2.32 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities analysts forecast that Ingredion Incorporated will post 9.7 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a dividend of $0.80 per share. 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 2.40%. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is currently 32.06%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INGR. New Wave Wealth Advisors LLC acquired a new position in Ingredion in the 2nd quarter valued at $279,000. Delphi Management Inc. MA raised its holdings in Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock valued at $1,793,000 after acquiring an additional 123 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Ingredion in the 2nd quarter valued at $2,966,000. Brandes Investment Partners LP raised its holdings in Ingredion by 21.3% in the 2nd quarter. Brandes Investment Partners LP now owns 431,339 shares of the company’s stock valued at $49,477,000 after acquiring an additional 75,754 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Ingredion in the 2nd quarter valued at $432,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.