Ingredion Inc (NYSE:INGR), a leading global ingredient solutions provider, has witnessed notable transactions from one of its directors, Jorge A. Uribe. According to the latest filings, Uribe made a series of stock transactions on March 29, including acquiring, selling, and withholding shares for tax obligations.
Uribe acquired 342.4364 shares of Ingredion common stock, valued at approximately $40,000 based on the share price of $116.81. This transaction increased his direct ownership in the company to 12,620.9744 shares, which includes restricted stock units (RSUs) that vest on future dates.
On the same day, Uribe also sold a nominal amount of 0.7159 shares for roughly $83, and 64.7205 shares were withheld to cover applicable taxes, amounting to $7,560. These shares were priced at $116.81 each, consistent with the acquisition price. The shares withheld for taxes indicate a common practice among executives to satisfy tax liabilities due upon the vesting of equity compensation.
The transactions reflect a mix of investment activity and tax planning by Uribe, who serves as a director of the company. It's worth noting that the acquired shares were issued as part of the annual retainer for the company's outside directors, as indicated in the footnotes of the filing.
Investors and market watchers often scrutinize insider transactions as they provide insights into the executives' confidence in the company's prospects. Ingredion's stock performance and Uribe's recent transactions will likely be of interest to those following the company's financial health and leadership's stake in its future.
InvestingPro Insights
Ingredion Inc (NYSE:INGR), while capturing attention through insider transactions, also presents an interesting financial profile as per the latest InvestingPro data. With a market capitalization of approximately $7.63 billion and a P/E ratio of 11.97, the company stands out for its valuation metrics. The P/E ratio has shown stability, with a slight adjustment to 11.73 when looking at the last twelve months as of Q4 2023. Additionally, the company's PEG ratio during the same period is notably low at 0.39, suggesting potential undervaluation relative to earnings growth expectations.
From an operational standpoint, Ingredion's gross profit margin for the last twelve months as of Q4 2023 was 21.43%, reflecting a solid operational efficiency. This is further supported by an operating income margin of 11.78%, indicating a strong ability to convert revenue into operating income.
For those considering the stock's income-generating potential, an InvestingPro Tip highlights that Ingredion has raised its dividend for 13 consecutive years, showcasing a commitment to returning value to shareholders. This is in addition to maintaining dividend payments for 27 consecutive years, which speaks volumes about the company's financial consistency and reliability.
To gain further insights and explore additional InvestingPro Tips, such as Ingredion's perfect Piotroski Score of 9 and its low earnings multiple, investors can visit https://www.investing.com/pro/INGR. There are 11 more tips available on InvestingPro, providing a comprehensive understanding of the company's financial health and stock performance. For those interested in a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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