Congress Asset Management Co. MA acquired a new position in Ingevity Corp (NYSE:NGVT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,820 shares of the company’s stock, valued at approximately $1,766,000.
A number of other institutional investors have also recently bought and sold shares of NGVT. Advisory Services Network LLC lifted its position in Ingevity by 54.3% in the 2nd quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after buying an additional 125 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in Ingevity in the 3rd quarter worth approximately $74,000. NumerixS Investment Technologies Inc purchased a new stake in Ingevity in the 2nd quarter worth approximately $84,000. Flagship Harbor Advisors LLC lifted its position in Ingevity by 29.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,246 shares of the company’s stock worth $131,000 after buying an additional 285 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Ingevity by 13.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock valued at $143,000 after purchasing an additional 200 shares in the last quarter. 91.63% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Ingevity from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. BMO Capital Markets cut their price target on shares of Ingevity to $121.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Wells Fargo & Co assumed coverage on shares of Ingevity in a report on Tuesday, October 15th. They set an “outperform” rating and a $100.00 price target on the stock. Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Ingevity from a “buy” rating to a “hold” rating and cut their price target for the company from $129.00 to $107.00 in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ingevity has an average rating of “Buy” and an average target price of $112.78.
NGVT traded down $0.16 during trading on Friday, hitting $93.89. The stock had a trading volume of 3,259 shares, compared to its average volume of 299,292. The firm has a market cap of $3.93 billion, a PE ratio of 22.73, a P/E/G ratio of 1.90 and a beta of 2.09. Ingevity Corp has a 12 month low of $72.59 and a 12 month high of $120.41. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 3.01. The company has a 50 day simple moving average of $85.18 and a 200-day simple moving average of $91.07.
Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, October 23rd. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.42 by $0.04. The firm had revenue of $359.90 million for the quarter, compared to the consensus estimate of $365.44 million. Ingevity had a net margin of 14.31% and a return on equity of 53.69%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. As a group, sell-side analysts anticipate that Ingevity Corp will post 4.79 earnings per share 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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.
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