Sheets Smith Wealth Management Acquires New Stake in Ingevity Corp (NGVT)

Sheets Smith Wealth Management bought a new position in Ingevity Corp (NYSE:NGVT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,139 shares of the company’s stock, valued at approximately $292,000.

Several other large investors have also added to or reduced their stakes in NGVT. Schwab Charles Investment Management Inc. raised its holdings in shares of Ingevity by 9.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 190,394 shares of the company’s stock valued at $10,929,000 after acquiring an additional 16,078 shares in the last quarter. Swiss National Bank raised its holdings in shares of Ingevity by 2.0% during the 2nd quarter. Swiss National Bank now owns 70,590 shares of the company’s stock valued at $4,052,000 after buying an additional 1,400 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Ingevity by 5.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock valued at $234,000 after buying an additional 210 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Ingevity by 320.0% during the 2nd quarter. Wells Fargo & Company MN now owns 302,614 shares of the company’s stock valued at $17,370,000 after buying an additional 230,558 shares in the last quarter. Finally, Nationwide Fund Advisors raised its holdings in shares of Ingevity by 27.9% during the 2nd quarter. Nationwide Fund Advisors now owns 54,439 shares of the company’s stock valued at $3,125,000 after buying an additional 11,872 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ingevity Corp (NYSE NGVT) opened at $76.63 on Friday. The firm has a market capitalization of $3,227.27, a P/E ratio of 31.02, a PEG ratio of 2.20 and a beta of 1.93. Ingevity Corp has a 1 year low of $52.25 and a 1 year high of $80.18. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.36 and a quick ratio of 1.34.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.11. The firm had revenue of $264.10 million for the quarter, compared to analyst estimates of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. equities research analysts anticipate that Ingevity Corp will post 2.49 earnings per share for the current year.

A number of equities analysts have commented on NGVT shares. Jefferies Group lifted their price target on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, October 4th. Loop Capital decreased their price target on Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, December 26th. BidaskClub raised Ingevity from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Finally, Rowe reaffirmed an “outperform” rating and issued a $90.00 price target (up from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $78.17.

TRADEMARK VIOLATION WARNING: This story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/21/sheets-smith-wealth-management-invests-292000-in-ingevity-corp-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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply