Ingredion Incorporated (NYSE:INGR) SVP Sells $721,027.00 in Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 4,700 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ingredion Trading Up 0.6 %

NYSE INGR traded up $0.97 during mid-day trading on Thursday, reaching $151.49. 154,544 shares of the stock were exchanged, compared to its average volume of 377,676. The stock has a market capitalization of $9.86 billion, a PE ratio of 15.49, a PEG ratio of 1.21 and a beta of 0.73. The business’s fifty day simple moving average is $135.54 and its 200 day simple moving average is $124.93. Ingredion Incorporated has a 1-year low of $100.01 and a 1-year high of $155.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.33 EPS. On average, research analysts anticipate that Ingredion Incorporated will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders 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 2.11%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 32.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INGR. 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 note on Wednesday. UBS Group raised their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays raised their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer raised their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

Hedge Funds Weigh In On Ingredion

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings 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 in the last quarter. Sei Investments Co. increased its stake in Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after buying an additional 21,619 shares during the period. Empowered Funds LLC purchased a new stake in Ingredion during the 1st quarter worth $1,812,000. Point72 DIFC Ltd increased its position in shares of Ingredion by 2,629.3% in the 2nd quarter. Point72 DIFC Ltd now owns 3,821 shares of the company’s stock worth $438,000 after purchasing an additional 3,681 shares during the last quarter. Finally, Equity Investment Corp increased its position in shares of Ingredion by 2.9% in the 1st quarter. Equity Investment Corp now owns 952,110 shares of the company’s stock worth $111,254,000 after purchasing an additional 27,062 shares during the last quarter. Institutional investors and hedge funds 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.