Ingevity Corp (NGVT) Shares Bought by CNH Partners LLC
CNH Partners LLC boosted its stake in shares of Ingevity Corp (NASDAQ:NGVT) by 14.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 466,198 shares of the company’s stock after acquiring an additional 58,164 shares during the period. CNH Partners LLC owned about 1.11% of Ingevity Corp worth $26,760,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pacad Investment Ltd. acquired a new position in Ingevity Corp during the second quarter worth $183,000. Envestnet Asset Management Inc. raised its position in Ingevity Corp by 46.9% during the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after acquiring an additional 1,117 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Ingevity Corp during the second quarter worth $203,000. Balyasny Asset Management LLC acquired a new position in Ingevity Corp during the second quarter worth $213,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Ingevity Corp by 5.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after acquiring an additional 210 shares during the period.
A number of equities analysts have weighed in on NGVT shares. KeyCorp restated a “buy” rating and set a $70.00 price objective on shares of Ingevity Corp in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Ingevity Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Ingevity Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 22nd. Jefferies Group LLC set a $68.00 price objective on shares of Ingevity Corp and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Finally, Aegis restated a “buy” rating and set a $67.00 price objective on shares of Ingevity Corp in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $69.83.
Shares of Ingevity Corp (NGVT) traded up 1.66% during midday trading on Friday, hitting $65.67. 388,952 shares of the stock were exchanged. The firm has a 50-day moving average price of $61.74 and a 200 day moving average price of $61.74. The firm has a market cap of $2.77 billion and a PE ratio of 52.45. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $66.01.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The business had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Ingevity Corp will post $2.41 earnings per share for the current fiscal year.
Ingevity Corp 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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