In a recent transaction, Michael O'Riordan, Senior Vice President of T&HS EMEA & Asia-Pacific at Ingredion Inc (NYSE:INGR), sold a small number of company shares. The transaction, which took place on March 16, 2024, involved the sale of 0.3408 shares of common stock at a price of $114.75 per share, amounting to a total of $39.
This sale comes alongside a separate transaction where shares were withheld to cover applicable taxes upon the vesting of restricted stock units. Specifically, 19 shares, valued at $114.75 each, were withheld to meet tax obligations related to the vesting of 40 restricted stock units that were granted three years prior, on March 16, 2021. The total value of the shares withheld for taxes was $2,180.
Following these transactions, O'Riordan's direct ownership in the company stands at 7,149.0245 shares of common stock. The sales reported are part of standard practices for executives managing their stock-based compensation and personal investment strategies.
Investors often monitor insider transactions as they can provide insights into executives’ perspectives on the company's current valuation and future prospects. Ingredion Inc, a major player in the grain mill products industry, continues to be represented by its leadership in the stock market through both the acquisition and disposition of shares.
InvestingPro Insights
Amidst the executive transactions at Ingredion Inc (NYSE:INGR), the company's financial health and market performance provide additional context for investors. With a strong Piotroski Score of 9, Ingredion demonstrates solid financials and operational efficiency, which is a positive signal for investors looking at the fundamental strength of the company. Additionally, the company's commitment to shareholder returns is evident through its consistent dividend growth, having raised its dividend for 13 consecutive years.
InvestingPro Data metrics further illustrate the company's position in the market. Ingredion's market capitalization stands at $7.56 billion, with a price-to-earnings (P/E) ratio of 11.9, which is slightly lower than the adjusted P/E ratio for the last twelve months as of Q4 2023 at 11.63. This suggests that the stock is trading at a low earnings multiple, potentially indicating an undervalued status relative to near-term earnings growth. The company's PEG ratio, a measure of the stock's value factoring in expected earnings growth, is at an attractive 0.38, reinforcing the potential for growth at a reasonable price. Furthermore, the price-to-book (P/B) ratio as of the same period is 2.14, offering another perspective on valuation.
For investors seeking more in-depth analysis and additional InvestingPro Tips, such as the company's debt levels, liquidity, and stock volatility, Ingredion's profile on InvestingPro provides a comprehensive toolkit for evaluating investment opportunities. There are currently 12 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/INGR. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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