Robert A. Ritchie Sells 1,195 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Ingredion Incorporated (NYSE:INGR) SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares in the company, valued at $1,988,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ingredion Stock Down 0.3 %

Shares of NYSE INGR opened at $123.02 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.16 and a beta of 0.72. The stock has a 50 day moving average price of $116.48 and a 200 day moving average price of $115.12. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $125.46.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.08. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.02 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. Ingredion’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. Sell-side analysts expect that Ingredion Incorporated will post 9.7 earnings per share for the current year.

Ingredion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 1st were issued a $0.78 dividend. The ex-dividend date was Monday, July 1st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.54%. Ingredion’s payout ratio is 31.26%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. BMO Capital Markets boosted their target price on Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Institutional Trading of Ingredion

Hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Ingredion during the second quarter worth $26,000. Jones Financial Companies Lllp purchased a new stake in Ingredion during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the period. Family Firm Inc. purchased a new stake in Ingredion during the second quarter worth $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Ingredion during the second quarter worth $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.