Teachers Advisors LLC reduced its holdings in Ingevity Corp (NASDAQ:NGVT) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,102 shares of the company’s stock after selling 12,717 shares during the period. Teachers Advisors LLC owned approximately 0.18% of Ingevity Corp worth $4,426,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pacad Investment Ltd. bought a new position in Ingevity Corp in the 2nd quarter worth approximately $183,000. Envestnet Asset Management Inc. increased its position in Ingevity Corp by 46.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after buying an additional 1,117 shares during the period. Breton Hill Capital Ltd. bought a new position in Ingevity Corp in the 2nd quarter worth approximately $234,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Ingevity Corp by 5.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after buying an additional 210 shares during the period. Finally, Ranger Investment Management L.P. bought a new position in Ingevity Corp in the 1st quarter worth approximately $269,000.
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Several brokerages have commented on NGVT. BidaskClub raised Ingevity Corp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Ingevity Corp from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Wednesday, October 4th. KeyCorp reaffirmed a “buy” rating and issued a $75.00 price target (up from $70.00) on shares of Ingevity Corp in a research report on Thursday, October 5th. Loop Capital began coverage on Ingevity Corp in a research report on Thursday, September 28th. They issued a “buy” rating and a $73.00 price target on the stock. Finally, Jefferies Group LLC set a $71.00 price target on Ingevity Corp and gave the stock a “buy” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $69.83.
Shares of Ingevity Corp (NGVT) opened at 68.31 on Friday. Ingevity Corp has a one year low of $40.24 and a one year high of $68.57. The stock’s 50 day moving average price is $62.75 and its 200 day moving average price is $62.75. The firm has a market cap of $2.88 billion and a price-to-earnings ratio of 54.56.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Ingevity Corp will post $2.41 earnings per share for the current fiscal year.
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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