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

Ingredion Incorporated (NYSE:INGR) SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

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

Ingredion Stock Performance

Ingredion stock opened at $138.84 on Tuesday. Ingredion Incorporated has a 1-year low of $100.90 and a 1-year high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.05 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. The firm’s 50 day simple moving average is $137.55 and its 200 day simple moving average is $126.70.

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

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.30%. 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 (DPR) is 31.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INGR. Sunbelt Securities Inc. lifted its position in Ingredion by 33.5% during the third quarter. Sunbelt Securities Inc. now owns 2,128 shares of the company’s stock valued at $292,000 after purchasing an additional 534 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ingredion by 1.7% during the 3rd 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 in the last quarter. Barclays PLC lifted its holdings in shares of Ingredion by 31.9% during the 3rd quarter. Barclays PLC now owns 47,291 shares of the company’s stock worth $6,499,000 after acquiring an additional 11,432 shares during the last quarter. Laraway Financial Advisors Inc purchased a new position in Ingredion in the third quarter worth $230,000. Finally, Orion Portfolio Solutions LLC increased its stake in Ingredion by 195.2% in the third quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock valued at $1,595,000 after acquiring an additional 7,676 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Oppenheimer upped their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays upped their price target on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

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.