State of Tennessee Treasury Department Reduces Stake in Ingevity Corporation (NGVT)

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.

TRADEMARK VIOLATION NOTICE: “State of Tennessee Treasury Department Reduces Stake in Ingevity Corporation (NGVT)” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/12/04/state-of-tennessee-treasury-department-sells-2351-shares-of-ingevity-corporation-ngvt.html.

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.

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

Receive News & Ratings for Ingevity Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply