Ingredion Inc 's (NYSE:INGR) Executive Vice President and Chief Financial Officer, James D. Gray, completed a stock transaction involving the sale of company shares, as revealed in a recent regulatory filing. The transaction, which took place on March 16, 2024, involved the sale of a small number of residual shares for a total of $68, with each share priced at $114.75.
The sale was part of a series of transactions that also included shares being withheld for tax obligations related to the vesting of restricted stock units. Specifically, 389 shares valued at $114.75 each were withheld to cover taxes upon the vesting of 876 restricted stock units that were granted three years prior, on March 16, 2021. In total, these withheld shares amounted to $44,637.
Following these transactions, Gray's remaining direct ownership in Ingredion stands at 46,258.3687 shares of common stock. This figure reflects the executive's vested interest in the company and aligns with typical practices of stock-based compensation and tax liability management.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. In this case, the transactions by Gray were part of a pre-scheduled plan related to previously awarded stock units and are not necessarily indicative of a change in the executive's view of the company's potential.
Ingredion Inc is a global ingredient solutions provider that turns grains, fruits, vegetables, and other plant-based materials into value-added ingredients and biomaterial solutions for the food, beverage, paper, and other industries. The company's shares are traded on the New York Stock Exchange under the ticker symbol INGR.
InvestingPro Insights
Ingredion Inc (NYSE:INGR), a prominent global ingredient solutions provider, has recently been in the spotlight due to insider transactions by its executive. For investors considering Ingredion's stock, certain metrics and InvestingPro Tips could provide a deeper understanding of the company's financial health and stock performance.
With a market capitalization of $7.56 billion, Ingredion is a significant player in its industry. The company's Price-to-Earnings (P/E) ratio stands at 11.9, which, when adjusted for the last twelve months as of Q4 2023, is slightly lower at 11.63. This suggests that the company is trading at a low earnings multiple, which is an InvestingPro Tip indicating that the stock could be undervalued relative to its earnings potential. The Price/Earnings to Growth (PEG) ratio for the same period is notably low at 0.38, which may appeal to investors looking for growth at a reasonable price.
InvestingPro Tips also highlight that Ingredion has a perfect Piotroski Score of 9, signaling strong financial health, and has raised its dividend for 13 consecutive years, showcasing a commitment to returning value to shareholders. Moreover, the company's dividend yield as of a recent date stood at 2.72%, with a growth of 9.86% over the last twelve months, reinforcing its reputation as a reliable dividend payer. Additionally, the stock is trading near its 52-week high, at 96.57% of the peak price, reflecting positive investor sentiment.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, visiting the dedicated page for Ingredion on InvestingPro could offer valuable insights. There are 12 more tips available to help guide investment decisions. To access these insights and make the most of InvestingPro's features, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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