Ingevity Corp (NASDAQ:NGVT) Director Jean S. Blackwell acquired 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $58.38 per share, with a total value of $87,570.00. Following the completion of the acquisition, the director now owns 4,711 shares in the company, valued at approximately $275,028.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ingevity Corp (NASDAQ:NGVT) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $218.50 million during the quarter, compared to analyst estimates of $206.90 million.
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Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC upped their price objective on shares of Ingevity Corp from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Finally, Aegis reaffirmed a “buy” rating and set a $67.00 price objective (up from $60.00) on shares of Ingevity Corp in a report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $57.17.
A number of hedge funds and other institutional investors have recently bought and sold shares of NGVT. Panagora Asset Management Inc. increased its position in Ingevity Corp by 40.1% in the third quarter. Panagora Asset Management Inc. now owns 322,209 shares of the company’s stock worth $14,854,000 after buying an additional 92,213 shares during the period. Russell Investments Group Ltd. bought a new position in Ingevity Corp during the fourth quarter worth approximately $1,605,000. Rhumbline Advisers increased its position in Ingevity Corp by 6.1% in the third quarter. Rhumbline Advisers now owns 61,568 shares of the company’s stock worth $2,838,000 after buying an additional 3,518 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Ingevity Corp by 6.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,054,831 shares of the company’s stock worth $48,628,000 after buying an additional 60,285 shares during the period. Finally, Comerica Bank increased its position in Ingevity Corp by 25.1% in the fourth quarter. Comerica Bank now owns 67,849 shares of the company’s stock worth $3,596,000 after buying an additional 13,634 shares during the period.
About Ingevity Corp
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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