Insider Selling: Ingredion Incorporated (NYSE:INGR) CEO Sells 1,000 Shares of Stock

Ingredion Incorporated (NYSE:INGR) CEO James P. Zallie sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Ingredion Trading Down 0.0 %

Shares of INGR opened at $132.65 on Wednesday. The stock has a market capitalization of $8.71 billion, a P/E ratio of 13.29, a PEG ratio of 1.16 and a beta of 0.72. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $121.29 and a two-hundred day simple moving average of $117.62. Ingredion Incorporated has a twelve month low of $89.54 and a twelve month high of $134.18.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 EPS. On average, research analysts anticipate that Ingredion Incorporated will post 9.7 EPS for the current year.

Institutional Investors Weigh In On Ingredion

Institutional investors and hedge funds have recently modified their holdings of the stock. Loews Corp lifted its position in shares of Ingredion by 11.1% in the 4th quarter. Loews Corp now owns 200,000 shares of the company’s stock worth $21,706,000 after purchasing an additional 20,000 shares during the period. Insight Wealth Strategies LLC lifted its position in shares of Ingredion by 230.9% in the 1st quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after purchasing an additional 9,577 shares during the period. Janus Henderson Group PLC lifted its position in shares of Ingredion by 154.0% in the 1st quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after purchasing an additional 47,225 shares during the period. Sei Investments Co. lifted its position in Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock valued at $13,305,000 after acquiring an additional 21,619 shares during the period. Finally, BNP Paribas purchased a new position in Ingredion during the 1st quarter valued at about $1,154,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INGR shares. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets increased their target price on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Oppenheimer increased their target price on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $122.00 to $145.00 in a report on Friday, August 9th. Finally, UBS Group increased their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.33.

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.