Insider Selling: Ingredion Incorporated (NYSE:INGR) SVP Sells 2,400 Shares of Stock

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 2,400 shares of Ingredion stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the sale, the senior vice president now directly owns 31,996 shares in the company, valued at $4,345,696.72. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ingredion Stock Performance

Ingredion stock opened at $137.05 on Friday. The firm has a 50 day simple moving average of $131.72 and a 200-day simple moving average of $135.59. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect that Ingredion Incorporated will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st were given a $0.80 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.20 dividend on an annualized basis and a yield of 2.33%. Ingredion’s payout ratio is currently 33.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets dropped their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group set a $155.00 target price on Ingredion in a report on Tuesday, April 22nd. Finally, Stephens reduced their price objective on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.20.

Institutional Investors Weigh In On Ingredion

A number of institutional investors have recently made changes to their positions in INGR. Vanguard Group Inc. boosted its position in shares of Ingredion by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,285,705 shares of the company’s stock worth $1,002,222,000 after purchasing an additional 84,863 shares during the period. Pacer Advisors Inc. boosted its position in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company’s stock worth $260,056,000 after buying an additional 268,389 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Ingredion by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,218,628 shares of the company’s stock valued at $164,771,000 after buying an additional 22,333 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after buying an additional 361,584 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Ingredion by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,182,434 shares of the company’s stock valued at $162,703,000 after acquiring an additional 14,741 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.