Ingredion Incorporated (NYSE:INGR) CFO James D. Gray Sells 54,869 Shares of Stock

Ingredion Incorporated (NYSE:INGR) CFO James D. Gray sold 54,869 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ingredion Price Performance

INGR opened at $148.19 on Tuesday. The stock has a fifty day moving average price of $139.84 and a 200 day moving average price of $128.84. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 1 year low of $104.52 and a 1 year high of $155.44. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.26 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $2.33 EPS. Analysts forecast that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analysts Set New Price Targets

INGR has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets increased their target price on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group increased their price objective on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and an average price target of $155.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion in the second quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ingredion during the 2nd quarter worth about $33,000. Family Firm Inc. bought a new position in shares of Ingredion in the 2nd quarter valued at approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in Ingredion in the 2nd quarter worth approximately $36,000. 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.