Ingredion Incorporated (NYSE:INGR) Chairman Ilene S. Gordon sold 28,141 shares of Ingredion stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $111.33, for a total value of $3,132,937.53. Following the completion of the sale, the chairman now directly owns 252,255 shares in the company, valued at approximately $28,083,549.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
NYSE:INGR opened at $113.38 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.59 and a current ratio of 2.52. The stock has a market capitalization of $8.10 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.27 and a beta of 0.76. Ingredion Incorporated has a 52-week low of $112.78 and a 52-week high of $114.93.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, May 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.71%. Ingredion’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 earnings per share. analysts anticipate that Ingredion Incorporated will post 8.05 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in INGR. SeaCrest Wealth Management LLC bought a new position in Ingredion during the fourth quarter worth about $114,000. Bedel Financial Consulting Inc. bought a new position in Ingredion during the first quarter worth about $119,000. Focused Wealth Management Inc bought a new position in Ingredion during the fourth quarter worth about $140,000. Meeder Asset Management Inc. grew its holdings in Ingredion by 146.4% during the fourth quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock worth $155,000 after purchasing an additional 659 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Ingredion by 66.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,249 shares of the company’s stock worth $174,000 after purchasing an additional 500 shares during the period. 87.08% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on INGR. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. ValuEngine downgraded Ingredion from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Credit Suisse Group set a $130.00 target price on Ingredion and gave the company a “buy” rating in a research report on Friday, May 4th. BMO Capital Markets lowered their target price on Ingredion from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Friday, May 4th. Finally, Citigroup downgraded Ingredion from a “buy” rating to a “neutral” rating in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $137.00.
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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