American International Group Inc. Lowers Position in Ingevity Corp (NGVT)

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American International Group Inc. decreased its position in Ingevity Corp (NYSE:NGVT) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 32,860 shares of the company’s stock after selling 397 shares during the period. American International Group Inc.’s holdings in Ingevity were worth $2,750,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NGVT. Geode Capital Management LLC lifted its holdings in Ingevity by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 443,029 shares of the company’s stock worth $37,077,000 after buying an additional 32,533 shares during the period. Magnus Financial Group LLC purchased a new stake in Ingevity during the fourth quarter worth $235,000. California State Teachers Retirement System lifted its holdings in Ingevity by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 66,443 shares of the company’s stock worth $5,561,000 after buying an additional 1,563 shares during the period. Brown Advisory Inc. purchased a new stake in Ingevity during the fourth quarter worth $222,000. Finally, Stifel Financial Corp lifted its holdings in Ingevity by 8.3% during the fourth quarter. Stifel Financial Corp now owns 12,997 shares of the company’s stock worth $1,086,000 after buying an additional 996 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Shares of NGVT opened at $106.55 on Tuesday. Ingevity Corp has a 12 month low of $70.71 and a 12 month high of $120.41. The company has a quick ratio of 1.26, a current ratio of 2.31 and a debt-to-equity ratio of 2.19. The firm has a market cap of $4.36 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.77 and a beta of 1.65.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, February 13th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. Ingevity had a return on equity of 53.18% and a net margin of 14.92%. The firm had revenue of $278.60 million during the quarter, compared to analyst estimates of $265.60 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. Analysts forecast that Ingevity Corp will post 4.87 earnings per share for the current year.

In related news, CAO Phillip John Platt sold 2,725 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total value of $310,840.75. Following the transaction, the chief accounting officer now directly owns 1,137 shares of the company’s stock, valued at approximately $129,697.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Katherine Pryor Burgeson sold 4,400 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $114.76, for a total value of $504,944.00. Following the completion of the transaction, the executive vice president now directly owns 8,801 shares in the company, valued at $1,010,002.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,125 shares of company stock valued at $2,876,065. Company insiders own 0.60% of the company’s stock.

A number of research firms have weighed in on NGVT. Oppenheimer set a $110.00 target price on Ingevity and gave the stock a “buy” rating in a report on Thursday, February 14th. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “strong-buy” rating and set a $124.00 target price for the company in a report on Monday, February 18th. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Jefferies Financial Group set a $68.00 price objective on Ingevity and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Loop Capital increased their price objective on Ingevity to $104.00 and gave the company a “hold” rating in a report on Friday, February 15th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $100.22.

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Ingevity Profile

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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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