James P. Zallie Sells 371 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 371 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ingredion Trading Up 0.3 %

INGR opened at $135.50 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The firm has a 50 day simple moving average of $133.88 and a 200 day simple moving average of $122.46. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $138.37.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 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 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 earnings per share. On average, sell-side analysts anticipate that Ingredion Incorporated will post 9.95 earnings per share for the current year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st. Ingredion’s payout ratio is 32.06%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group boosted their target price 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. BMO Capital Markets boosted their target price 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. Oppenheimer boosted their target price on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.33.

Institutional Investors Weigh In On Ingredion

Institutional investors and hedge funds have recently modified their holdings of the business. ZWJ Investment Counsel Inc. raised its holdings in Ingredion by 0.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 368,095 shares of the company’s stock worth $50,587,000 after purchasing an additional 2,057 shares during the period. Creative Planning raised its holdings in Ingredion by 5.5% in the third quarter. Creative Planning now owns 11,203 shares of the company’s stock worth $1,540,000 after purchasing an additional 584 shares during the period. CX Institutional acquired a new stake in Ingredion in the third quarter worth $5,277,000. Ritholtz Wealth Management raised its holdings in Ingredion by 55.3% in the third quarter. Ritholtz Wealth Management now owns 11,333 shares of the company’s stock worth $1,557,000 after purchasing an additional 4,036 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Ingredion in the third quarter worth $453,000. 85.27% of the stock is owned by institutional investors.

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.