State of Tennessee Treasury Department decreased its position in shares of Ingevity Corp (NYSE:NGVT) by 9.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,545 shares of the company’s stock after selling 3,652 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of Ingevity worth $2,364,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ingevity by 50.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock valued at $171,000 after acquiring an additional 807 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Ingevity in the 3rd quarter valued at $218,000. Greenwood Capital Associates LLC bought a new stake in Ingevity in the 4th quarter valued at $223,000. Miles Capital Inc. bought a new stake in Ingevity in the 4th quarter valued at $231,000. Finally, Keybank National Association OH bought a new stake in Ingevity in the 4th quarter valued at $237,000. Institutional investors own 89.94% of the company’s stock.
A number of analysts have issued reports on NGVT shares. Loop Capital reduced their price target on shares of Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, December 26th. SunTrust Banks restated a “buy” rating and issued a $90.00 target price on shares of Ingevity in a report on Friday, February 23rd. Jefferies Group boosted their target price on shares of Ingevity to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Zacks Investment Research downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Buckingham Research upgraded shares of Ingevity from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $64.00 to $92.00 in a report on Thursday, March 8th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ingevity currently has an average rating of “Buy” and an average target price of $86.13.
Ingevity Corp (NGVT) traded down $1.01 during trading on Wednesday, hitting $77.63. 112,195 shares of the stock were exchanged, compared to its average volume of 238,781. The company has a market cap of $3,336.56, a P/E ratio of 30.74, a PEG ratio of 1.88 and a beta of 0.93. Ingevity Corp has a 12-month low of $53.62 and a 12-month high of $82.10. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.36 and a current ratio of 2.41.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $229.50 million for the quarter, compared to the consensus estimate of $214.94 million. Ingevity had a net margin of 12.99% and a return on equity of 50.74%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. sell-side analysts forecast that Ingevity Corp will post 3.51 earnings per share for the current year.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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