Ingevity Corporation (NGVT) Stake Boosted by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL grew its stake in shares of Ingevity Corporation (NYSE:NGVT) by 24.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,200 shares of the company’s stock after acquiring an additional 2,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Ingevity were worth $700,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of NGVT. Vanguard Group Inc. increased its holdings in Ingevity by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock worth $220,255,000 after buying an additional 64,918 shares during the period. Franklin Resources Inc. increased its holdings in Ingevity by 7.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,668,566 shares of the company’s stock worth $153,163,000 after buying an additional 184,036 shares during the period. Chilton Investment Co. LLC increased its holdings in Ingevity by 26.3% in the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock worth $61,226,000 after buying an additional 221,932 shares during the period. Channing Capital Management LLC increased its holdings in Ingevity by 3.5% in the 3rd quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock worth $58,283,000 after buying an additional 31,153 shares during the period. Finally, TPG Group Holdings SBS Advisors Inc. increased its holdings in Ingevity by 34.3% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock worth $50,932,000 after buying an additional 226,830 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.
NGVT has been the topic of several research reports. BidaskClub downgraded shares of Ingevity from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Rowe reiterated an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Ingevity in a report on Thursday, November 30th. Loop Capital reiterated a “buy” rating and issued a $80.00 price target on shares of Ingevity in a report on Tuesday, November 14th. Jefferies Group raised their price objective on shares of Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $70.00 price objective on shares of Ingevity in a research note on Friday, September 8th. Eight research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $75.57.
Shares of Ingevity Corporation (NYSE:NGVT) opened at $75.47 on Friday. The company has a market cap of $3,178.42, a P/E ratio of 30.55, a PEG ratio of 2.52 and a beta of 1.78. Ingevity Corporation has a one year low of $49.87 and a one year high of $80.18. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36.
Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The business had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $260.88 million. Ingevity had a net margin of 9.86% and a return on equity of 58.14%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. research analysts forecast that Ingevity Corporation will post 2.49 earnings per share for the current fiscal year.
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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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