Tower Research Capital LLC TRC grew its position in shares of Ingevity Co. (NYSE:NGVT – Get Rating) by 74.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,730 shares of the company’s stock after purchasing an additional 1,591 shares during the period. Tower Research Capital LLC TRC’s holdings in Ingevity were worth $226,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NGVT. Ronald Blue Trust Inc. boosted its stake in shares of Ingevity by 1,548.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 478 shares of the company’s stock worth $31,000 after purchasing an additional 449 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Ingevity during the 3rd quarter worth about $53,000. EMC Capital Management lifted its holdings in shares of Ingevity by 49.3% during the 2nd quarter. EMC Capital Management now owns 2,031 shares of the company’s stock worth $128,000 after acquiring an additional 671 shares during the period. Trexquant Investment LP purchased a new position in shares of Ingevity during the 2nd quarter worth about $210,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Ingevity during the 2nd quarter worth about $223,000. 90.01% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Ingevity from $76.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their price objective for the stock from $81.00 to $100.00 in a report on Thursday, February 2nd. Finally, StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.67.
Ingevity Trading Up 0.2 %
Ingevity (NYSE:NGVT – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.33). Ingevity had a net margin of 12.68% and a return on equity of 34.63%. The business had revenue of $383.60 million during the quarter, compared to analysts’ expectations of $395.77 million. During the same quarter in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts predict that Ingevity Co. will post 6.51 EPS for the current year.
Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.
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