Royce & Associates LP lifted its position in shares of Ingevity Corp (NYSE:NGVT) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,500 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Royce & Associates LP owned about 0.05% of Ingevity worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Ingevity by 1.7% during the second quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock valued at $220,255,000 after acquiring an additional 64,918 shares during the last quarter. Franklin Resources Inc. increased its position in Ingevity by 7.4% during the second quarter. Franklin Resources Inc. now owns 2,668,566 shares of the company’s stock valued at $153,163,000 after acquiring an additional 184,036 shares during the last quarter. Chilton Investment Co. LLC increased its position in Ingevity by 26.3% during the second quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock valued at $61,226,000 after acquiring an additional 221,932 shares during the last quarter. Channing Capital Management LLC increased its position in Ingevity by 3.5% during the third quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock valued at $58,283,000 after acquiring an additional 31,153 shares during the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its position in Ingevity by 34.3% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock worth $50,932,000 after buying an additional 226,830 shares in the last quarter. 91.09% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on NGVT shares. Loop Capital reduced their price target on Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, December 26th. BidaskClub raised Ingevity from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Jefferies Group upped their price objective on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Ingevity in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.17.
Shares of Ingevity Corp (NYSE NGVT) traded down $0.94 during mid-day trading on Friday, reaching $74.55. The company’s stock had a trading volume of 170,016 shares, compared to its average volume of 282,661. 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 Corp has a fifty-two week low of $51.01 and a fifty-two week high of $80.18. The stock has a market capitalization of $3,140.00 and a P/E ratio of 33.28.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping the 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 firm had revenue of $264.10 million for the quarter, compared to the consensus estimate of $260.88 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts expect that Ingevity Corp will post 2.49 earnings per share for the current fiscal year.
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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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