Royal Bank of Canada Sells 243,043 Shares of Ingevity Corp (NGVT)

Royal Bank of Canada trimmed its stake in Ingevity Corp (NYSE:NGVT) by 56.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,984 shares of the company’s stock after selling 243,043 shares during the period. Royal Bank of Canada owned about 0.44% of Ingevity worth $13,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Ingevity by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 367,698 shares of the company’s stock valued at $25,911,000 after purchasing an additional 24,359 shares during the period. California Public Employees Retirement System increased its holdings in Ingevity by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 87,633 shares of the company’s stock valued at $6,175,000 after purchasing an additional 2,600 shares during the period. Two Sigma Investments LP increased its holdings in Ingevity by 269.9% in the fourth quarter. Two Sigma Investments LP now owns 239,239 shares of the company’s stock valued at $16,859,000 after purchasing an additional 174,555 shares during the period. HBK Investments L P increased its holdings in Ingevity by 10.9% in the fourth quarter. HBK Investments L P now owns 30,397 shares of the company’s stock valued at $2,142,000 after purchasing an additional 2,997 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Ingevity by 33.2% during the 4th quarter. Guggenheim Capital LLC now owns 51,789 shares of the company’s stock worth $3,650,000 after acquiring an additional 12,921 shares during the period. Institutional investors and hedge funds own 90.78% of the company’s stock.

Shares of NGVT opened at $83.18 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.67 and a quick ratio of 1.39. The stock has a market capitalization of $3.40 billion, a PE ratio of 32.24, a PEG ratio of 1.95 and a beta of 0.94. Ingevity Corp has a one year low of $55.07 and a one year high of $84.87.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 2nd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.16. The company had revenue of $235.20 million during the quarter, compared to the consensus estimate of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. sell-side analysts forecast that Ingevity Corp will post 3.46 earnings per share for the current fiscal year.

NGVT has been the subject of a number of recent analyst reports. KeyCorp increased their price target on Ingevity from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, May 4th. Oppenheimer set a $90.00 price target on Ingevity and gave the stock a “buy” rating in a report on Thursday, May 3rd. Jefferies Financial Group increased their price target on Ingevity to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. SunTrust Banks increased their price target on Ingevity from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Finally, TheStreet upgraded Ingevity from a “c” rating to a “b-” rating in a report on Monday, April 30th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ingevity presently has an average rating of “Buy” and a consensus price target of $89.50.

Ingevity Company Profile

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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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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