Zevin Asset Management LLC Sells 2,385 Shares of Ingevity Corp (NGVT)
Zevin Asset Management LLC lowered its position in shares of Ingevity Corp (NYSE:NGVT) by 27.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,297 shares of the company’s stock after selling 2,385 shares during the quarter. Zevin Asset Management LLC’s holdings in Ingevity were worth $509,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in NGVT. Rhumbline Advisers grew its stake in Ingevity by 1.9% during the first quarter. Rhumbline Advisers now owns 100,408 shares of the company’s stock worth $7,399,000 after buying an additional 1,825 shares during the last quarter. Alps Advisors Inc. bought a new stake in Ingevity during the first quarter worth about $1,039,000. New York State Teachers Retirement System grew its stake in Ingevity by 1.5% during the first quarter. New York State Teachers Retirement System now owns 105,516 shares of the company’s stock worth $7,775,000 after buying an additional 1,600 shares during the last quarter. Westpac Banking Corp grew its stake in Ingevity by 31.3% during the first quarter. Westpac Banking Corp now owns 81,195 shares of the company’s stock worth $5,983,000 after buying an additional 19,346 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Ingevity by 3.8% during the first quarter. Kornitzer Capital Management Inc. KS now owns 336,744 shares of the company’s stock worth $24,815,000 after buying an additional 12,285 shares during the last quarter. 89.44% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on NGVT shares. TheStreet upgraded shares of Ingevity from a “c” rating to a “b-” rating in a research report on Monday, April 30th. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Monday, July 30th. KeyCorp upped their target price on shares of Ingevity from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Jefferies Financial Group upped their target price on shares of Ingevity to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Finally, Oppenheimer reiterated a “buy” rating on shares of Ingevity in a research report on Wednesday, May 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Ingevity currently has a consensus rating of “Buy” and a consensus target price of $100.33.
Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.13. Ingevity had a net margin of 14.72% and a return on equity of 46.65%. The company had revenue of $308.60 million for the quarter, compared to analyst estimates of $305.14 million. During the same period in the prior year, the business earned $0.78 earnings per share. Ingevity’s quarterly revenue was up 18.6% on a year-over-year basis. research analysts predict that Ingevity Corp will post 3.66 EPS for the current year.
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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