Franklin Resources Inc. lowered its position in shares of Ingevity Corp (NYSE:NGVT) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,992,949 shares of the company’s stock after selling 442,595 shares during the quarter. Franklin Resources Inc.’s holdings in Ingevity were worth $140,452,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Equity Partners LLC bought a new position in shares of Ingevity during the 4th quarter worth about $427,000. OxFORD Asset Management LLP boosted its position in shares of Ingevity by 20.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 165,512 shares of the company’s stock worth $10,430,000 after purchasing an additional 27,624 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ingevity by 50.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after purchasing an additional 807 shares in the last quarter. WINTON GROUP Ltd boosted its position in shares of Ingevity by 151.5% during the 3rd quarter. WINTON GROUP Ltd now owns 65,528 shares of the company’s stock worth $4,094,000 after purchasing an additional 39,473 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Ingevity by 4.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 300,514 shares of the company’s stock worth $18,774,000 after purchasing an additional 13,448 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ingevity Corp (NYSE:NGVT) opened at $78.64 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.41 and a quick ratio of 1.36. Ingevity Corp has a fifty-two week low of $53.62 and a fifty-two week high of $82.10. The firm has a market cap of $3,336.56, a PE ratio of 30.74, a P/E/G ratio of 1.88 and a beta of 0.93.
A number of equities analysts have recently issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $89.00 price objective (up previously from $78.00) on shares of Ingevity in a research report on Friday, February 23rd. Buckingham Research upgraded shares of Ingevity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $64.00 to $92.00 in a report on Thursday, March 8th. SunTrust Banks restated a “buy” rating and issued a $90.00 target price on shares of Ingevity in a report on Friday, February 23rd. Loop Capital lowered their target price on shares of Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, December 26th. Finally, Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Ingevity has a consensus rating of “Buy” and a consensus target price of $86.13.
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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.
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