Insider Selling: Ingredion Incorporated (NYSE:INGR) CEO Sells 10,815 Shares of Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 10,815 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the sale, the chief executive officer now directly owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ingredion Price Performance

Shares of NYSE INGR traded down $0.71 during trading on Thursday, hitting $126.21. 224,340 shares of the company were exchanged, compared to its average volume of 538,275. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.03 and a beta of 0.74. 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 $109.51 and a 1 year high of $155.44. The firm’s fifty day moving average price is $134.57 and its 200 day moving average price is $136.45.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, January 2nd. Ingredion’s payout ratio is currently 32.96%.

Hedge Funds Weigh In On Ingredion

Institutional investors and hedge funds have recently bought and sold shares of the stock. BOK Financial Private Wealth Inc. acquired a new position in shares of Ingredion in the 4th quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion in the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Ingredion during the third quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Ingredion by 32.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on INGR shares. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays raised 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. Oppenheimer reduced their target price on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Stephens reduced their target price on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, BMO Capital Markets reduced their target price on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.20.

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.