Royce & Associates LP increased its stake in shares of Ingevity Corp (NYSE:NGVT) by 110.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,157 shares of the company’s stock after acquiring an additional 54,600 shares during the period. Royce & Associates LP owned about 0.25% of Ingevity worth $10,612,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new position in Ingevity during the third quarter worth approximately $120,000. Harvest Fund Management Co. Ltd purchased a new position in Ingevity during the third quarter worth approximately $134,000. Flagship Harbor Advisors LLC purchased a new position in Ingevity during the second quarter worth approximately $138,000. Valeo Financial Advisors LLC purchased a new position in Ingevity during the second quarter worth approximately $146,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Ingevity during the second quarter worth approximately $176,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on NGVT. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Friday, November 30th. ValuEngine downgraded Ingevity from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Berenberg Bank downgraded Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, October 2nd. Oppenheimer set a $110.00 price target on Ingevity and gave the stock a “buy” rating in a research report on Wednesday, November 14th. Finally, Loop Capital set a $98.00 price target on Ingevity and gave the stock a “hold” rating in a research report on Thursday, August 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $103.50.
NYSE NGVT opened at $90.45 on Friday. The company has a market capitalization of $3.99 billion, a PE ratio of 35.06, a PEG ratio of 2.06 and a beta of 1.48. Ingevity Corp has a 1-year low of $66.57 and a 1-year high of $106.59. The company has a current ratio of 2.34, a quick ratio of 1.26 and a debt-to-equity ratio of 2.31.
Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, October 24th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.12. The business had revenue of $311.20 million for the quarter, compared to the consensus estimate of $305.50 million. Ingevity had a return on equity of 47.45% and a net margin of 15.53%. On average, research analysts predict that Ingevity Corp will post 3.85 earnings per share for the current fiscal year.
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Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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