James P. Zallie Sells 22,550 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 22,550 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ingredion Price Performance

Shares of NYSE:INGR opened at $134.50 on Thursday. 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 stock has a market capitalization of $8.83 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.72. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $135.14.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share 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 the consensus estimate of $1.98 billion. During the same period last year, the firm earned $2.32 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that Ingredion Incorporated will post 9.95 EPS for the current year.

Ingredion Increases Dividend

The business 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. The ex-dividend date is Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion’s payout ratio is 32.06%.

Institutional Trading of Ingredion

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in shares of Ingredion during the 4th quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ingredion in the second quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ingredion during the second quarter worth about $33,000. Finally, Family Firm Inc. bought a new stake in Ingredion during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INGR. Oppenheimer upped their price target on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group raised 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. 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 research note on Wednesday, August 7th. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

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.