Ingredion Incorporated (NYSE:INGR) CEO Sells $4,591,031.24 in Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the completion of the transaction, the chief executive officer owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ingredion Stock Down 0.4%

Shares of NYSE:INGR opened at $125.84 on Friday. The company has a market capitalization of $8.08 billion, a PE ratio of 12.28, a P/E/G ratio of 1.01 and a beta of 0.71. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. Ingredion Incorporated has a twelve month low of $120.51 and a twelve month high of $155.44. The firm has a 50 day simple moving average of $133.75 and a 200-day simple moving average of $132.96.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.87 EPS. On average, equities analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st were given a $0.80 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $3.20 annualized dividend and a yield of 2.5%. Ingredion’s dividend payout ratio is 31.22%.

Institutional Trading of Ingredion

Several institutional investors and hedge funds have recently bought and sold shares of INGR. Advisory Services Network LLC raised its position in Ingredion by 102.2% in the 4th quarter. Advisory Services Network LLC now owns 4,316 shares of the company’s stock valued at $594,000 after purchasing an additional 2,181 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Ingredion in the 4th quarter valued at $31,752,000. Townsquare Capital LLC raised its position in Ingredion by 35.4% in the 4th quarter. Townsquare Capital LLC now owns 6,867 shares of the company’s stock valued at $945,000 after purchasing an additional 1,797 shares during the last quarter. Barclays PLC raised its position in Ingredion by 104.8% in the 4th quarter. Barclays PLC now owns 96,865 shares of the company’s stock valued at $13,323,000 after purchasing an additional 49,574 shares during the last quarter. Finally, Mariner LLC raised its position in Ingredion by 19.3% in the 4th quarter. Mariner LLC now owns 15,980 shares of the company’s stock valued at $2,198,000 after purchasing an additional 2,583 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INGR. UBS Group lifted their price target on shares of Ingredion from $149.00 to $151.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Oppenheimer reduced their price objective on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.40.

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.