Federated Investors Inc. PA increased its holdings in shares of Ingevity (NYSE:NGVT) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,510 shares of the company’s stock after purchasing an additional 8,910 shares during the quarter. Federated Investors Inc. PA owned approximately 1.01% of Ingevity worth $31,282,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ingevity by 50.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after purchasing an additional 807 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $206,000. Greenwood Capital Associates LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $223,000. Miles Capital Inc. purchased a new stake in shares of Ingevity during the fourth quarter worth about $231,000. Finally, Keybank National Association OH bought a new position in Ingevity during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
A number of equities analysts recently commented on NGVT shares. KeyCorp reissued an “overweight” rating and set a $89.00 price target (up from $78.00) on shares of Ingevity in a research note on Friday, February 23rd. Zacks Investment Research raised Ingevity from a “hold” rating to a “strong-buy” rating and set a $89.00 price target for the company in a research note on Saturday, February 24th. SunTrust Banks reissued a “buy” rating and set a $90.00 price target on shares of Ingevity in a research note on Friday, February 23rd. Loop Capital lowered Ingevity from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a research note on Tuesday, February 27th. Finally, Jefferies Group increased their price target on Ingevity to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.78.
NYSE:NGVT opened at $79.63 on Thursday. The company has a market capitalization of $3.40 billion, a PE ratio of 28.08, a P/E/G ratio of 1.96 and a beta of 1.04. Ingevity has a 1 year low of $53.62 and a 1 year high of $84.87. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.67 and a quick ratio of 1.39.
Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.16. The business had revenue of $235.20 million during the quarter, compared to analyst estimates of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. research analysts expect that Ingevity will post 3.44 EPS for the current fiscal year.
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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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