New Mexico Educational Retirement Board Has $757,000 Position in Ingevity Corp (NYSE:NGVT)

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New Mexico Educational Retirement Board reduced its position in shares of Ingevity Corp (NYSE:NGVT) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,200 shares of the company’s stock after selling 1,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Ingevity were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its holdings in Ingevity by 54.3% during the 2nd quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Ingevity during the 1st quarter worth approximately $76,000. Flagship Harbor Advisors LLC lifted its holdings in Ingevity by 29.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,246 shares of the company’s stock worth $131,000 after purchasing an additional 285 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Ingevity by 5,330.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,792 shares of the company’s stock worth $189,000 after purchasing an additional 1,759 shares during the last quarter. Finally, Starr International Co. Inc. acquired a new stake in Ingevity during the 1st quarter worth approximately $193,000. 90.06% of the stock is owned by institutional investors and hedge funds.

NYSE NGVT traded down $0.71 during midday trading on Wednesday, hitting $72.94. The company had a trading volume of 25 shares, compared to its average volume of 367,118. The company has a market capitalization of $3.11 billion, a PE ratio of 17.83, a P/E/G ratio of 1.51 and a beta of 1.96. The company has a current ratio of 2.28, a quick ratio of 1.25 and a debt-to-equity ratio of 3.51. The firm has a 50-day moving average price of $90.56 and a 200-day moving average price of $100.03. Ingevity Corp has a twelve month low of $73.26 and a twelve month high of $120.41.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The firm had revenue of $352.80 million during the quarter, compared to analysts’ expectations of $362.06 million. Ingevity had a return on equity of 54.67% and a net margin of 14.03%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. On average, equities analysts anticipate that Ingevity Corp will post 4.91 EPS for the current year.

Several research firms recently weighed in on NGVT. Jefferies Financial Group cut Ingevity from a “buy” rating to a “hold” rating and dropped their price target for the stock from $129.00 to $107.00 in a report on Friday, July 19th. BMO Capital Markets assumed coverage on Ingevity in a report on Thursday, July 18th. They issued an “outperform” rating and a $101.29 price objective for the company. Berenberg Bank raised Ingevity from a “hold” rating to a “buy” rating and dropped their price objective for the company from $120.00 to $110.00 in a report on Tuesday, May 28th. ValuEngine cut Ingevity from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research raised Ingevity from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $108.61.

Ingevity Company 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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