Ingredion Incorporated (NYSE:INGR - Get Free Report) 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 value of $12,022.20. Following the sale, the chief financial officer now owns 12,729 shares in the company, valued at approximately $1,700,339.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Ingredion Trading Up 0.5 %
Shares of INGR stock opened at $135.07 on Wednesday. The business has a 50-day moving average price of $133.69 and a two-hundred day moving average price of $122.37. Ingredion Incorporated has a 12-month low of $89.54 and a 12-month high of $138.37. 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 firm has a market cap of $8.87 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.
Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $2.32 EPS. Ingredion's quarterly revenue was down 9.2% compared to the same quarter last year. Equities analysts anticipate 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 issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. This is a positive change from Ingredion's previous quarterly dividend of $0.78. Ingredion's dividend payout ratio (DPR) is currently 32.06%.
Institutional Trading of Ingredion
Several hedge funds have recently added to or reduced their stakes in the business. 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 worth $1,604,000 after buying an additional 9,577 shares during the period. Janus Henderson Group PLC grew its position in Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock worth $9,101,000 after acquiring an additional 47,225 shares during the last quarter. Sei Investments Co. increased its stake in Ingredion by 23.4% in the 1st 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. BNP Paribas bought a new stake in Ingredion in the first quarter valued at approximately $1,154,000. Finally, Empowered Funds LLC purchased a new stake in shares of Ingredion during the first quarter valued at approximately $1,812,000. 85.27% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
INGR has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Oppenheimer increased their price objective on Ingredion from $126.00 to $138.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Barclays upgraded Ingredion from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. BMO Capital Markets raised their price target on Ingredion from $120.00 to $128.00 and gave the company a "market perform" rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.33.
View Our Latest Stock Analysis on Ingredion
Ingredion Company Profile
(
Get Free Report)
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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