Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes Sells 6,122 Shares

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 6,122 shares of Ingredion stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Larry Fernandes also recently made the following trade(s):

• On Wednesday, November 6th, Larry Fernandes sold 4,700 shares of Ingredion stock. The stock was sold at an average price of $153.41, for a total value of $721,027.00.

Ingredion Trading Down 1.5 %

INGR traded down $2.18 during trading hours on Monday, reaching $138.65. 657,383 shares of the company’s stock traded hands, compared to its average volume of 384,833. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $137.55 and a 200 day moving average price of $126.70. The firm has a market capitalization of $9.03 billion, a PE ratio of 13.74, a PEG ratio of 1.21 and a beta of 0.73. Ingredion Incorporated has a 52-week low of $100.90 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.47. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. As a group, sell-side analysts predict that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.80 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.31%. Ingredion’s dividend payout ratio is presently 31.22%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.17.

Institutional Investors Weigh In On Ingredion

Several hedge funds and other institutional investors have recently made changes to their positions in INGR. Dimensional Fund Advisors LP boosted its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares during the period. State Street Corp grew its stake in Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after acquiring an additional 846,967 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after acquiring an additional 36,421 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock valued at $160,516,000 after buying an additional 19,064 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.