Ingredion Incorporated (NYSE:INGR) SVP Sells $861,120.52 in Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 6,122 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Larry Fernandes also recently made the following trade(s):

• On Wednesday, November 6th, Larry Fernandes sold 4,700 shares of Ingredion stock. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00.

Ingredion Price Performance

INGR opened at $142.37 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44. The company has a 50 day moving average of $137.74 and a two-hundred day moving average of $127.06. The company has a market cap of $9.28 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. On average, analysts expect that Ingredion Incorporated will post 10.6 earnings per share for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 31.22%.

Analyst Ratings Changes

A number of research firms recently weighed in on INGR. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group raised their price objective on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays lifted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Hedge Funds Weigh In On Ingredion

A number of institutional investors and 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 valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ingredion in the second quarter worth $33,000. Family Firm Inc. acquired a new position in shares of Ingredion in the second quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion in the second quarter worth $36,000. 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.