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

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

Ingredion Stock Up 0.5 %

Shares of INGR opened at $135.07 on Wednesday. The business’s 50 day simple moving average is $133.69 and its 200-day simple moving average is $122.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. Ingredion Incorporated has a one year low of $89.54 and a one year high of $138.37. The company has a market capitalization of $8.87 billion, a P/E ratio of 13.53, a PEG ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. As a group, sell-side analysts predict that Ingredion Incorporated will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a $0.80 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.06%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INGR. Insight Wealth Strategies LLC raised its position in shares of Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after acquiring an additional 9,577 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 valued at $9,101,000 after purchasing an additional 47,225 shares during the last quarter. Sei Investments Co. grew its position in shares of Ingredion by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after buying an additional 21,619 shares during the period. BNP Paribas bought a new stake in shares of Ingredion during the first quarter worth approximately $1,154,000. Finally, Empowered Funds LLC acquired a new position in Ingredion in the first quarter valued at approximately $1,812,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INGR shares. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer upped their price objective on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. Finally, 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 report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.