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

Ingredion Incorporated (NYSE:INGR) CFO James D. Gray sold 90 shares of the stock in a transaction that occurred on 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 directly owns 12,729 shares of the company’s stock, valued at $1,700,339.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ingredion Trading Up 0.3 %

Shares of INGR stock opened at $135.50 on Thursday. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.22 and a beta of 0.72. The company’s fifty day simple moving average is $133.88 and its two-hundred day simple moving average is $122.46. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $138.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $2.32 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.36%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s payout ratio is currently 32.06%.

Institutional Trading of Ingredion

Several institutional investors and hedge funds have recently bought and sold shares of the company. Insight Wealth Strategies LLC raised its position 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of Ingredion by 154.0% during the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock valued at $9,101,000 after acquiring an additional 47,225 shares during the last quarter. Sei Investments Co. grew 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 in the last quarter. BNP Paribas purchased a new stake in Ingredion in the first quarter valued at approximately $1,154,000. Finally, Empowered Funds LLC purchased a new stake in Ingredion in the first quarter valued at approximately $1,812,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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