David Eric Seip Purchases 3,000 Shares of Ingredion Incorporated (NYSE:INGR) Stock

Ingredion Incorporated (NYSE:INGR) SVP David Eric Seip purchased 3,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was purchased at an average cost of $98.50 per share, with a total value of $295,500.00. Following the completion of the acquisition, the senior vice president now owns 18,035 shares in the company, valued at $1,776,447.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ingredion Stock Performance

Ingredion stock opened at $100.47 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.64 billion, a PE ratio of 11.72 and a beta of 0.79. The firm has a fifty day simple moving average of $105.35 and a two-hundred day simple moving average of $104.46. Ingredion Incorporated has a twelve month low of $78.81 and a twelve month high of $113.46.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.20 billion. Ingredion had a return on equity of 17.63% and a net margin of 6.99%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 earnings per share. Research analysts expect that Ingredion Incorporated will post 9.23 EPS for the current year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.11%. This is an increase from Ingredion’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, September 29th. Ingredion’s dividend payout ratio is 33.14%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INGR. StockNews.com began coverage on shares of Ingredion in a report on Thursday, August 17th. They set a “buy” rating for the company. Barclays dropped their price objective on shares of Ingredion from $120.00 to $118.00 in a report on Thursday, June 1st. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a report on Wednesday, August 9th. Finally, BMO Capital Markets dropped their price objective on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ingredion has an average rating of “Moderate Buy” and a consensus target price of $119.20.

Hedge Funds Weigh In On Ingredion

Several hedge funds and other institutional investors have recently modified their holdings of INGR. West Tower Group LLC bought a new position in shares of Ingredion during the second quarter valued at about $26,000. Group One Trading L.P. bought a new position in shares of Ingredion during the fourth quarter valued at about $27,000. National Bank of Canada FI raised its stake in shares of Ingredion by 119.5% during the first quarter. National Bank of Canada FI now owns 292 shares of the company’s stock valued at $30,000 after acquiring an additional 159 shares during the last quarter. Quarry LP bought a new position in shares of Ingredion during the second quarter valued at about $30,000. Finally, Global Retirement Partners LLC raised its stake in shares of Ingredion by 3,260.0% during the first quarter. Global Retirement Partners LLC now owns 336 shares of the company’s stock valued at $37,000 after acquiring an additional 326 shares during the last quarter. 84.80% of the stock is owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces 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.