WESTCHESTER, Ill.—Jorge A. Uribe, a director at Ingredion Inc (NYSE:INGR), a $9.4 billion market cap company currently trading at $144.69, recently reported a series of stock transactions involving the company's common stock, according to a Form 4 filing with the Securities and Exchange Commission. InvestingPro analysis indicates the company maintains a GREAT financial health score, with strong shareholder returns and a 27-year history of consistent dividend payments.
On December 12, Uribe acquired 274.82 shares of Ingredion common stock, valued at approximately $40,000, as part of the company's compensation to outside directors. Additionally, Uribe disposed of 51.941 shares to cover applicable taxes, amounting to a transaction worth about $7,560. Trading at a P/E ratio of 13.9, InvestingPro's Fair Value analysis suggests the stock is currently undervalued.
In a separate transaction on the same day, Uribe sold a fractional 0.879 shares, generating proceeds of $127. Following these transactions, Uribe holds 12,737.0353 shares directly and 4,924 shares indirectly through Cafedan Investments Ltd Trust. For comprehensive insights into Ingredion's valuation metrics and 13 additional ProTips, visit InvestingPro.
In other recent news, Ingredion Incorporated reported a robust third quarter, marking its best Q3 performance with a significant 29% increase in adjusted operating income. This growth was attributed to strategic initiatives and operational efficiencies, despite a net sales decrease. The company's sales volume saw a 4% year-over-year increase, primarily driven by growth in the U.S. food and beverage sectors and the recovery of Brazil's brewing category. However, net sales fell by 8% to approximately $1.9 billion, influenced by lower pricing and foreign exchange impacts.
Ingredion has also made progress on a $50 million cost savings program, improved contract management, and operational efficiencies. The company's full-year operating income margins are projected to be between 13% and 15% for Texture & Healthful Solutions and 18%-20% for Food and Industrial Ingredients LatAm. Despite anticipating mid-single-digit declines in net sales for 2024, excluding the impact of the South Korea business sale, Ingredion expects an increase in adjusted operating income by high single digits.
These recent developments underscore Ingredion's commitment to organic investments, dividends, and strategic cash deployment for growth and shareholder returns. The company's adjusted EPS is expected to be between $10.35 and $10.65, with capital expenditures anticipated to be between $310 million and $330 million. Despite challenges in net sales and market uncertainties, Ingredion's strategic initiatives and operational efficiencies continue to yield strong income growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.