New York State Common Retirement Fund Has $11.79 Million Stock Holdings in Ingevity Co. (NYSE:NGVT)

New York State Common Retirement Fund lessened its holdings in shares of Ingevity Co. (NYSE:NGVT) by 4.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 164,802 shares of the company’s stock after selling 6,947 shares during the period. New York State Common Retirement Fund owned 0.45% of Ingevity worth $11,787,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates grew its holdings in shares of Ingevity by 3.5% in the 1st quarter. Raymond James & Associates now owns 41,653 shares of the company’s stock valued at $2,669,000 after buying an additional 1,425 shares during the period. American Century Companies Inc. increased its position in Ingevity by 29.9% during the 1st quarter. American Century Companies Inc. now owns 26,042 shares of the company’s stock worth $1,668,000 after purchasing an additional 5,998 shares in the last quarter. Citigroup Inc. increased its position in Ingevity by 26.7% in the 1st quarter. Citigroup Inc. now owns 74,386 shares of the company’s stock valued at $4,766,000 after acquiring an additional 15,658 shares during the period. PNC Financial Services Group Inc. increased its position in Ingevity by 63.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,164 shares of the company’s stock valued at $1,035,000 after acquiring an additional 6,304 shares during the period. Finally, Bank of Montreal Can increased its position in Ingevity by 3.8% in the 1st quarter. Bank of Montreal Can now owns 5,186 shares of the company’s stock valued at $338,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Ingevity Trading Down 0.7 %

NYSE:NGVT opened at $49.74 on Thursday. The company has a quick ratio of 1.21, a current ratio of 2.46 and a debt-to-equity ratio of 2.14. Ingevity Co. has a 52 week low of $46.52 and a 52 week high of $90.81. The firm has a market capitalization of $1.80 billion, a P/E ratio of 10.56 and a beta of 1.87. The company has a fifty day moving average of $55.88 and a 200 day moving average of $60.97.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. Ingevity had a net margin of 10.18% and a return on equity of 27.94%. The business had revenue of $481.80 million during the quarter, compared to analyst estimates of $486.43 million. During the same period in the prior year, the business earned $1.73 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, research analysts predict that Ingevity Co. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NGVT. TheStreet lowered shares of Ingevity from a “b-” rating to a “c” rating in a research note on Tuesday, May 30th. StockNews.com assumed coverage on shares of Ingevity in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company cut their price objective on shares of Ingevity from $66.00 to $55.00 in a research report on Tuesday, May 23rd. Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the company from $64.00 to $75.00 in a research report on Thursday, July 27th. Finally, BMO Capital Markets lowered shares of Ingevity from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $71.00 to $60.00 in a research report on Monday, August 7th. Three investment 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 stock presently has a consensus rating of “Hold” and an average price target of $63.33.

Ingevity Profile

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.