London Co. of Virginia lowered its stake in shares of Ingevity Co. (NYSE:NGVT – Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 339,095 shares of the company’s stock after selling 5,771 shares during the quarter. London Co. of Virginia owned approximately 0.93% of Ingevity worth $24,252,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NGVT. Private Trust Co. NA grew its position in Ingevity by 12,500.0% during the first quarter. Private Trust Co. NA now owns 504 shares of the company’s stock valued at $36,000 after buying an additional 500 shares during the period. Parkside Financial Bank & Trust grew its position in Ingevity by 62.9% during the first quarter. Parkside Financial Bank & Trust now owns 694 shares of the company’s stock valued at $50,000 after buying an additional 268 shares during the period. Bessemer Group Inc. grew its position in Ingevity by 547.5% during the first quarter. Bessemer Group Inc. now owns 1,554 shares of the company’s stock valued at $111,000 after buying an additional 1,314 shares during the period. Icon Wealth Partners LLC bought a new position in Ingevity during the first quarter worth about $113,000. Finally, Tower Research Capital LLC TRC boosted its position in Ingevity by 59.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock worth $116,000 after purchasing an additional 607 shares during the period. Institutional investors own 97.70% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on NGVT shares. StockNews.com started coverage on shares of Ingevity in a research report on Thursday, August 17th. They set a “hold” rating for the company. BMO Capital Markets lowered shares of Ingevity from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $71.00 to $60.00 in a research report on Monday, August 7th. Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their target price for the stock from $64.00 to $75.00 in a research report on Thursday, July 27th. Wells Fargo & Company cut their target price on shares of Ingevity from $66.00 to $55.00 in a research report on Tuesday, May 23rd. Finally, TheStreet lowered shares of Ingevity from a “b-” rating to a “c” rating in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.33.
Ingevity Trading Down 1.2 %
Shares of Ingevity stock opened at $50.13 on Monday. Ingevity Co. has a 12-month low of $46.52 and a 12-month high of $90.81. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 10.64 and a beta of 1.87. The company has a current ratio of 2.46, a quick ratio of 1.21 and a debt-to-equity ratio of 2.14. The company’s 50-day moving average price is $56.38 and its 200-day moving average price is $61.59.
Ingevity (NYSE:NGVT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. The firm had revenue of $481.80 million for the quarter, compared to the consensus estimate of $486.43 million. Ingevity had a net margin of 10.18% and a return on equity of 27.94%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, equities analysts expect that Ingevity Co. will post 4.08 earnings per share for the current fiscal year.
Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It 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, motorcycles, trucks, and boats.
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