Fmr LLC reduced its holdings in shares of Ingevity Corp (NASDAQ:NGVT) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 619,738 shares of the company’s stock after selling 180,366 shares during the quarter. Fmr LLC owned 1.47% of Ingevity Corp worth $35,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NGVT. Envestnet Asset Management Inc. grew its holdings in shares of Ingevity Corp by 46.9% during the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock valued at $211,000 after buying an additional 1,117 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Ingevity Corp by 0.5% during the first quarter. Prudential Financial Inc. now owns 73,131 shares of the company’s stock valued at $4,450,000 after buying an additional 350 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Ingevity Corp by 1.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the company’s stock valued at $585,000 after buying an additional 160 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ingevity Corp by 85.8% during the first quarter. Wellington Management Group LLP now owns 627,588 shares of the company’s stock valued at $38,188,000 after buying an additional 289,880 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Ingevity Corp by 0.9% during the first quarter. Teachers Advisors LLC now owns 89,819 shares of the company’s stock valued at $5,465,000 after buying an additional 779 shares during the last quarter.

Ingevity Corp (NASDAQ:NGVT) opened at 68.40 on Friday. Ingevity Corp has a one year low of $40.24 and a one year high of $70.71. The firm has a market capitalization of $2.88 billion and a PE ratio of 54.63. The stock’s 50 day moving average is $63.87 and its 200-day moving average is $63.87.

Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The company had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. Ingevity Corp’s revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Ingevity Corp will post $2.41 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on NGVT shares. Jefferies Group LLC set a $71.00 price objective on shares of Ingevity Corp and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub cut shares of Ingevity Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Zacks Investment Research cut shares of Ingevity Corp from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Aegis reiterated a “buy” rating and set a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. Finally, KeyCorp reiterated a “buy” rating and set a $70.00 price objective on shares of Ingevity Corp in a report on Friday, September 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Ingevity Corp has a consensus rating of “Buy” and an average price target of $70.33.

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.

Institutional Ownership by Quarter for Ingevity Corp (NASDAQ:NGVT)

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