ProShare Advisors LLC Reduces Stake in Ingevity Corp (NGVT)
ProShare Advisors LLC decreased its holdings in Ingevity Corp (NASDAQ:NGVT) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the company’s stock after selling 2,067 shares during the period. ProShare Advisors LLC’s holdings in Ingevity Corp were worth $402,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NGVT. BlackRock Inc. increased its holdings in shares of Ingevity Corp by 90,224.0% in the 1st quarter. BlackRock Inc. now owns 5,089,759 shares of the company’s stock valued at $309,712,000 after purchasing an additional 5,084,124 shares during the period. Wellington Management Group LLP increased its holdings in shares of Ingevity Corp by 85.8% in the 1st quarter. Wellington Management Group LLP now owns 627,588 shares of the company’s stock valued at $38,188,000 after purchasing an additional 289,880 shares during the period. Marshall Wace North America L.P. increased its holdings in shares of Ingevity Corp by 4,456.0% in the 2nd quarter. Marshall Wace North America L.P. now owns 263,974 shares of the company’s stock valued at $15,046,000 after purchasing an additional 258,180 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Ingevity Corp by 320.0% in the 2nd quarter. Wells Fargo & Company MN now owns 302,614 shares of the company’s stock valued at $17,370,000 after purchasing an additional 230,558 shares during the period. Finally, Chilton Investment Co. LLC increased its holdings in shares of Ingevity Corp by 26.3% in the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock valued at $61,226,000 after purchasing an additional 221,932 shares during the period.
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Ingevity Corp (NASDAQ:NGVT) opened at 65.67 on Friday. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $66.01. The firm has a market cap of $2.77 billion and a P/E ratio of 52.45. The company has a 50-day moving average price of $61.74 and a 200-day moving average price of $61.74.
Ingevity Corp (NASDAQ:NGVT) last released its earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million for the quarter, compared to analysts’ expectations of $259.56 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The company’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Ingevity Corp will post $2.41 earnings per share for the current year.
A number of equities analysts have recently weighed in on NGVT shares. Jefferies Group LLC set a $71.00 target price on Ingevity Corp and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research downgraded Ingevity Corp from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. BidaskClub downgraded Ingevity Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Aegis restated a “buy” rating and issued a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. Finally, KeyCorp restated a “buy” rating and issued a $70.00 price objective on shares of Ingevity Corp in a report on Friday, September 8th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.83.
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.
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