Rhumbline Advisers boosted its stake in Ingevity Corp (NYSE:NGVT) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,493 shares of the company’s stock after buying an additional 8,111 shares during the quarter. Rhumbline Advisers’ holdings in Ingevity were worth $13,570,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in NGVT. Portland Global Advisors LLC bought a new position in shares of Ingevity during the 1st quarter valued at $225,000. Nuveen Asset Management LLC raised its holdings in shares of Ingevity by 107.3% during the 4th quarter. Nuveen Asset Management LLC now owns 83,034 shares of the company’s stock valued at $6,949,000 after purchasing an additional 42,975 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Ingevity by 127.1% during the 4th quarter. Amalgamated Bank now owns 6,630 shares of the company’s stock valued at $555,000 after purchasing an additional 3,711 shares in the last quarter. Fruth Investment Management raised its holdings in shares of Ingevity by 5.1% during the 4th quarter. Fruth Investment Management now owns 8,679 shares of the company’s stock valued at $726,000 after purchasing an additional 419 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Ingevity during the 4th quarter valued at $23,420,000. Institutional investors own 95.46% of the company’s stock.
Shares of NGVT opened at $93.79 on Thursday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 22.71, a PEG ratio of 1.61 and a beta of 1.61. Ingevity Corp has a one year low of $74.98 and a one year high of $120.41. The company has a current ratio of 2.29, a quick ratio of 1.14 and a debt-to-equity ratio of 4.03.
Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, May 1st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $276.80 million for the quarter, compared to the consensus estimate of $288.07 million. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, research analysts expect that Ingevity Corp will post 4.79 EPS for the current fiscal year.
A number of research analysts have recently weighed in on NGVT shares. Zacks Investment Research downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Oppenheimer set a $110.00 price target on shares of Ingevity and gave the company a “buy” rating in a report on Thursday, February 14th. ValuEngine upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Loop Capital raised their price target on shares of Ingevity to $104.00 and gave the company a “hold” rating in a report on Friday, February 15th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ingevity presently has an average rating of “Buy” and a consensus target price of $102.44.
In other Ingevity news, CAO Phillip John Platt sold 2,725 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $114.07, for a total value of $310,840.75. Following the sale, the chief accounting officer now directly owns 1,137 shares in the company, valued at approximately $129,697.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John C. Fortson sold 18,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was 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. Insiders sold a total of 25,125 shares of company stock worth $2,876,065 in the last quarter. Insiders own 0.60% of the company’s stock.
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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