Ingredion (NYSE:INGR) Shares Down 4.6% – Here’s What Happened

Ingredion Incorporated (NYSE:INGR)’s stock price traded down 4.6% on Tuesday . The stock traded as low as $125.22 and last traded at $128.56. 120,663 shares were traded during mid-day trading, a decline of 76% from the average session volume of 495,415 shares. The stock had previously closed at $134.73.

Wall Street Analyst Weigh In

INGR has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays upped 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. UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets cut their price objective on Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Stephens decreased their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.33.

Ingredion Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The firm has a market capitalization of $8.30 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. The business’s 50-day moving average is $138.40 and its 200 day moving average is $136.03.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. As a group, analysts anticipate that Ingredion Incorporated will post 10.59 EPS for the current fiscal year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were given a dividend of $0.80 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.51%. Ingredion’s dividend payout ratio is 31.22%.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,992 shares of company stock valued at $8,913,841 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Ingredion

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in Ingredion in the 4th quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new position in Ingredion in the 3rd quarter valued at approximately $41,000. Crews Bank & Trust bought a new position in shares of Ingredion during the fourth quarter valued at $48,000. Versant Capital Management Inc lifted its holdings in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after purchasing an additional 362 shares during the period. Finally, Concord Wealth Partners grew its stake in shares of Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

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.