Ingredion Inc (NYSE:INGR) VP Christine M. Castellano sold 37,267 shares of Ingredion stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $105.30, for a total value of $3,924,215.10. Following the transaction, the vice president now owns 28,168 shares of the company’s stock, valued at $2,966,090.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
INGR traded up $0.26 during trading on Wednesday, hitting $105.76. The stock had a trading volume of 651,881 shares, compared to its average volume of 527,467. The company has a market capitalization of $7.48 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. Ingredion Inc has a one year low of $89.48 and a one year high of $146.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.50 and a quick ratio of 1.53.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.70 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.70. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. Equities analysts anticipate that Ingredion Inc will post 6.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, October 1st were paid a $0.625 dividend. The ex-dividend date was Friday, September 28th. This is an increase from Ingredion’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 2.36%. Ingredion’s payout ratio is 32.47%.
Several large investors have recently added to or reduced their stakes in the company. MML Investors Services LLC bought a new stake in shares of Ingredion during the 3rd quarter valued at $657,000. Rhumbline Advisers raised its holdings in shares of Ingredion by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 168,262 shares of the company’s stock worth $17,661,000 after buying an additional 1,067 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Ingredion by 91.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 8,000 shares of the company’s stock worth $840,000 after buying an additional 3,825 shares in the last quarter. Toronto Dominion Bank increased its holdings in Ingredion by 8.9% in the 3rd quarter. Toronto Dominion Bank now owns 7,919 shares of the company’s stock worth $831,000 after purchasing an additional 649 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Ingredion by 10.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 585,769 shares of the company’s stock worth $61,481,000 after purchasing an additional 54,662 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Citigroup upgraded Ingredion from a “sell” rating to a “neutral” rating in a research note on Thursday, November 1st. Stephens reiterated a “hold” rating and set a $110.00 target price on shares of Ingredion in a research note on Friday, July 13th. ValuEngine downgraded Ingredion from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $145.00 target price on shares of Ingredion in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $124.50.
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Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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