MetLife Investment Advisors LLC Has $1.57 Million Position in Ingevity Corp (NGVT)
MetLife Investment Advisors LLC boosted its holdings in Ingevity Corp (NYSE:NGVT) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,361 shares of the company’s stock after acquiring an additional 736 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Ingevity were worth $1,566,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Synovus Financial Corp lifted its holdings in Ingevity by 961.5% in the second quarter. Synovus Financial Corp now owns 1,380 shares of the company’s stock valued at $112,000 after buying an additional 1,250 shares during the period. Valeo Financial Advisors LLC acquired a new position in Ingevity in the second quarter valued at approximately $146,000. Flagship Harbor Advisors LLC acquired a new position in Ingevity in the second quarter valued at approximately $138,000. Mount Yale Investment Advisors LLC acquired a new position in Ingevity in the first quarter valued at approximately $147,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Ingevity in the second quarter valued at approximately $176,000. Institutional investors and hedge funds own 92.08% of the company’s stock.
Shares of NYSE:NGVT opened at $103.76 on Wednesday. Ingevity Corp has a 52 week low of $59.63 and a 52 week high of $106.59. The company has a quick ratio of 1.48, a current ratio of 2.58 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 2.35 and a beta of 1.22.
NGVT has been the topic of several analyst reports. KeyCorp increased their price objective on shares of Ingevity from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a report on Monday, July 30th. Loop Capital set a $98.00 target price on shares of Ingevity and gave the company a “hold” rating in a research note on Thursday, August 16th. Jefferies Financial Group upped their target price on shares of Ingevity to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, ValuEngine raised shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $100.33.
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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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