Ingevity Corp (NGVT) Stake Lessened by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its position in shares of Ingevity Corp (NYSE:NGVT) by 66.3% in the 4th quarter, Holdings Channel reports. The firm owned 10,211 shares of the company’s stock after selling 20,045 shares during the period. PNC Financial Services Group Inc.’s holdings in Ingevity were worth $853,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in NGVT. Fruth Investment Management raised its stake in Ingevity by 5.1% during the 4th quarter. Fruth Investment Management now owns 8,679 shares of the company’s stock worth $726,000 after acquiring an additional 419 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Ingevity in the fourth quarter valued at $23,420,000. Glenmede Trust Co. NA increased its stake in Ingevity by 39.6% in the third quarter. Glenmede Trust Co. NA now owns 4,442 shares of the company’s stock valued at $452,000 after purchasing an additional 1,260 shares during the period. EAM Investors LLC acquired a new position in Ingevity in the third quarter valued at $3,577,000. Finally, Royce & Associates LP increased its stake in Ingevity by 110.2% in the third quarter. Royce & Associates LP now owns 104,157 shares of the company’s stock valued at $10,612,000 after purchasing an additional 54,600 shares during the period. 92.81% of the stock is owned by institutional investors and hedge funds.
In other Ingevity news, EVP Katherine Pryor Burgeson sold 4,400 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $114.76, for a total value of $504,944.00. Following the sale, the executive vice president now owns 8,801 shares of the company’s stock, valued at $1,010,002.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John C. Fortson sold 18,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $114.46, for a total transaction of $2,060,280.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,125 shares of company stock worth $2,876,065. 0.18% of the stock is owned by insiders.
NGVT stock opened at $101.18 on Friday. The stock has a market cap of $4.22 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.91 and a beta of 1.65. Ingevity Corp has a 52 week low of $70.71 and a 52 week high of $120.41. The company has a current ratio of 2.31, a quick ratio of 1.26 and a debt-to-equity ratio of 2.19.
Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, February 13th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The firm had revenue of $278.60 million for the quarter, compared to the consensus estimate of $265.60 million. Ingevity had a net margin of 14.92% and a return on equity of 53.18%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities analysts predict that Ingevity Corp will post 4.87 earnings per share for the current year.
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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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