Ingredion Incorporated (NYSE:INGR) CFO James D. Gray Sells 90 Shares of Stock

Ingredion Incorporated (NYSE:INGR) CFO James D. Gray sold 90 shares of Ingredion stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $12,022.20. Following the transaction, the chief financial officer now owns 12,729 shares of the company’s stock, valued at $1,700,339.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ingredion Price Performance

INGR opened at $135.07 on Wednesday. The firm has a market cap of $8.87 billion, a P/E ratio of 13.53, a PEG ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37. The firm has a 50-day moving average of $133.69 and a 200 day moving average of $122.37.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.32 EPS. On average, research analysts expect that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders 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 a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. Ingredion’s payout ratio is presently 32.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion during the second quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion during the 2nd quarter valued at approximately $33,000. Family Firm Inc. bought a new position in Ingredion in the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion in the 2nd quarter worth approximately $36,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the topic of several analyst reports. 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 research report on Wednesday, August 7th. UBS Group raised their price objective on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Oppenheimer upped their target price on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $122.00 to $145.00 in a research report 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.