In a recent transaction, James D. Gray, the Executive Vice President and CFO of Ingredion Inc (NYSE:INGR), sold a total of $1,033,538 worth of company stock. The sales occurred on May 13, 2024, and involved a combination of two separate transactions at varying prices.
Gray sold 4,988 shares at a weighted average price of $121.717, and another 3,502 shares at a weighted average price of $121.763. The prices for these sales ranged from $121.430 to $121.940, according to the footnotes provided in the filing. The transactions resulted in Gray's ownership of Ingredion stock decreasing to 42,832.652 shares after the sales were completed.
On the same day, Gray also acquired 4,988 shares of Ingredion common stock at a price of $82.28 per share, totaling $410,412 in value. This acquisition was related to the exercise of employee stock options that vested in three equal annual installments starting from February 3, 2016.
Following these transactions, Gray's total direct ownership in the company stands at 42,832.652 shares, which includes restricted stock units (RSUs) acquired through deemed dividend reinvestment. The RSUs are subject to vesting on the same dates as the RSUs to which they are deemed dividends.
Investors and followers of Ingredion Inc's financial developments often monitor the buying and selling activities of company insiders like Gray, as these can provide insights into the company's performance and the confidence that executives have in the firm's future.
InvestingPro Insights
As investors scrutinize the recent insider transactions of Ingredion Inc's Executive Vice President and CFO, James D. Gray, it's important to contextualize these moves within the broader financial landscape of the company. Ingredion Inc (NYSE:INGR), with a robust market capitalization of $7.79 billion USD, exhibits a strong financial position with a P/E ratio of 11.74. This valuation measure is particularly notable as it suggests the stock is trading at a low earnings multiple, which is an InvestingPro Tip indicating the shares may be undervalued relative to near-term earnings growth.
Moreover, Ingredion’s commitment to shareholder value is reflected in its consistent dividend payments, having raised its dividend for 13 consecutive years and maintaining these payments for 27 consecutive years. This track record is a testament to the company's financial health and operational stability. The current dividend yield stands at a healthy 2.57%, which, coupled with the company's high shareholder yield, is another InvestingPro Tip that may appeal to income-focused investors.
InvestingPro also highlights that Ingredion operates with a moderate level of debt and its liquid assets exceed short-term obligations, offering a measure of financial resilience. The company's stock generally trades with low price volatility, which could be an attractive feature for investors seeking stability in their portfolio. For those looking for more in-depth analysis, there are additional InvestingPro Tips available, providing a comprehensive view of Ingredion's financial health and market potential. Interested readers can find these tips and more by visiting https://www.investing.com/pro/INGR and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
It's also noteworthy that Ingredion's stock is trading near its 52-week high, at 97.45% of its peak value, reflecting positive investor sentiment and market performance. The company has experienced a 1-year price total return of 13.97%, emphasizing its growth trajectory over the past year. These metrics, along with the fact that analysts predict the company will be profitable this year, offer a promising outlook for Ingredion as it continues to navigate the market.
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