Ingredion Incorporated (NYSE:INGR - Get Free Report) SVP Larry Fernandes sold 2,369 shares of the company's stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $119.11, for a total value of $282,171.59. Following the sale, the senior vice president now owns 28,848 shares of the company's stock, valued at approximately $3,436,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Larry Fernandes also recently made the following trade(s):
- On Tuesday, February 20th, Larry Fernandes sold 2,369 shares of Ingredion stock. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52.
Ingredion Stock Performance
NYSE INGR opened at $119.46 on Friday. The firm has a market capitalization of $7.84 billion, a P/E ratio of 12.49, a PEG ratio of 1.08 and a beta of 0.81. The stock has a 50-day simple moving average of $115.32 and a two-hundred day simple moving average of $109.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. Ingredion Incorporated has a fifty-two week low of $89.54 and a fifty-two week high of $120.00.
Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.08. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. Ingredion's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. On average, equities analysts forecast that Ingredion Incorporated will post 9.62 earnings per share for the current year.
Ingredion Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were issued a $0.78 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.61%. Ingredion's payout ratio is 32.50%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Stephens restated an "overweight" rating and set a $130.00 target price on shares of Ingredion in a research note on Wednesday, February 7th. Barclays upped their price objective on shares of Ingredion from $115.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, March 6th. BMO Capital Markets upped their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a "market perform" rating in a research note on Thursday. StockNews.com raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group upgraded Ingredion from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.17.
Check Out Our Latest Stock Report on INGR
Institutional Investors Weigh In On Ingredion
Several hedge funds have recently modified their holdings of the company. Paradiem LLC grew its holdings in Ingredion by 64.2% in the fourth quarter. Paradiem LLC now owns 73,190 shares of the company's stock valued at $7,943,000 after purchasing an additional 28,617 shares during the period. Cutter & CO Brokerage Inc. grew its stake in Ingredion by 2.9% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 34,577 shares of the company's stock valued at $3,402,000 after acquiring an additional 990 shares during the period. Schroder Investment Management Group increased its holdings in Ingredion by 833.7% in the 3rd quarter. Schroder Investment Management Group now owns 136,606 shares of the company's stock worth $13,442,000 after acquiring an additional 121,976 shares in the last quarter. Equity Investment Corp raised its position in Ingredion by 1.4% during the third quarter. Equity Investment Corp now owns 908,776 shares of the company's stock worth $89,424,000 after acquiring an additional 12,427 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Ingredion by 73.0% during the third quarter. Nordea Investment Management AB now owns 752,456 shares of the company's stock valued at $74,019,000 after purchasing an additional 317,509 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Ingredion Company Profile
(
Get Free Report)
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.
Further Reading
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