Insider Selling: Ingredion Incorporated (NYSE:INGR) SVP Sells 4,700 Shares of Stock

Ingredion Incorporated (NYSE:INGR - Get Free Report) SVP Larry Fernandes sold 4,700 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company's stock, valued at approximately $4,454,105.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ingredion Trading Down 0.3 %

Shares of Ingredion stock traded down $0.52 on Thursday, reaching $150.00. 677,390 shares of the company were exchanged, compared to its average volume of 380,146. Ingredion Incorporated has a fifty-two week low of $100.01 and a fifty-two week high of $155.44. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $135.87 and a 200-day moving average price of $125.11.

Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $2.33 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts expect that Ingredion Incorporated will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Tuesday, October 1st. This is an increase from Ingredion's previous quarterly dividend of $0.78. Ingredion's dividend payout ratio is 32.72%.

Hedge Funds Weigh In On Ingredion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ingredion in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock worth $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the 2nd quarter valued at $33,000. Family Firm Inc. purchased a new position in shares of Ingredion during the 2nd quarter valued at $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion in the second quarter worth $36,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer boosted their price target on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays boosted their target price on Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group increased their price target on Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $151.00.

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.