State of Tennessee Treasury Department cut its holdings in Ingevity Corporation (NYSE:NGVT) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,197 shares of the company’s stock after selling 2,351 shares during the quarter. State of Tennessee Treasury Department owned about 0.09% of Ingevity worth $2,324,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of NGVT. Vanguard Group Inc. lifted its position in Ingevity by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock worth $220,255,000 after buying an additional 64,918 shares in the last quarter. Franklin Resources Inc. raised its holdings in Ingevity by 7.4% during the 2nd quarter. Franklin Resources Inc. now owns 2,668,566 shares of the company’s stock worth $153,163,000 after purchasing an additional 184,036 shares during the last quarter. Chilton Investment Co. LLC raised its holdings in Ingevity by 26.3% during the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock worth $61,226,000 after purchasing an additional 221,932 shares during the last quarter. Channing Capital Management LLC raised its holdings in Ingevity by 3.5% during the 3rd quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock worth $58,283,000 after purchasing an additional 31,153 shares during the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its stake in shares of Ingevity by 34.3% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock valued at $50,932,000 after acquiring an additional 226,830 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Shares of Ingevity Corporation (NYSE:NGVT) traded down $0.07 during mid-day trading on Monday, reaching $78.99. The company’s stock had a trading volume of 355,523 shares, compared to its average volume of 248,095. The company has a market capitalization of $3,329.65, a P/E ratio of 32.01, a P/E/G ratio of 2.64 and a beta of 1.78. Ingevity Corporation has a 1-year low of $48.74 and a 1-year high of $80.18. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36.
Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.11. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The company had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $260.88 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Ingevity’s quarterly revenue was up 4.6% on a year-over-year basis. research analysts predict that Ingevity Corporation will post 2.49 EPS for the current year.
A number of analysts recently issued reports on NGVT shares. BidaskClub cut Ingevity from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Rowe restated an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Ingevity in a research note on Thursday. Loop Capital restated a “buy” rating and issued a $80.00 price target on shares of Ingevity in a research note on Tuesday, November 14th. Jefferies Group increased their price objective on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Ingevity in a research note on Friday, September 8th. Eight analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $75.57.
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Ingevity Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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