Ingredion Incorporated (NYSE:INGR - Get Free Report) CEO James P. Zallie sold 22,550 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ingredion Stock Down 0.0 %
Shares of Ingredion stock opened at $134.25 on Wednesday. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $135.14. The firm's 50 day moving average price is $123.15 and its 200-day moving average price is $118.41. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.81 billion, a P/E ratio of 13.45, a PEG ratio of 1.23 and a beta of 0.72.
Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results 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 net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $2.32 earnings per share. The business's revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.
Ingredion Increases Dividend
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The firm also recently announced 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 a positive change from Ingredion's previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, October 1st. Ingredion's dividend payout ratio is currently 32.06%.
Institutional Investors Weigh In On Ingredion
Institutional investors have recently added to or reduced their stakes in the business. Loews Corp lifted its stake in shares of Ingredion by 11.1% during the fourth quarter. Loews Corp now owns 200,000 shares of the company's stock worth $21,706,000 after buying an additional 20,000 shares during the period. Insight Wealth Strategies LLC increased its holdings in shares of Ingredion by 230.9% in the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company's stock valued at $1,604,000 after purchasing an additional 9,577 shares during the period. Janus Henderson Group PLC raised its stake in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock worth $9,101,000 after purchasing an additional 47,225 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Ingredion by 23.4% during the first quarter. Sei Investments Co. now owns 113,876 shares of the company's stock worth $13,305,000 after purchasing an additional 21,619 shares during the period. Finally, BNP Paribas purchased a new stake in Ingredion in the first quarter valued at approximately $1,154,000. Institutional investors and hedge funds own 85.27% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their price target on Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 7th. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. UBS Group boosted their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Oppenheimer upped their price target on shares of Ingredion from $126.00 to $138.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Finally, Barclays raised shares of 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 report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Ingredion currently has an average rating of "Moderate Buy" and an average target price of $137.33.
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About Ingredion
(
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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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