Moody Aldrich Partners LLC boosted its holdings in Ingevity Corp (NYSE:NGVT) by 61.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,656 shares of the company’s stock after purchasing an additional 22,807 shares during the quarter. Moody Aldrich Partners LLC owned about 0.14% of Ingevity worth $3,136,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in NGVT. Shine Investment Advisory Services Inc. grew its holdings in Ingevity by 36.4% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,447 shares of the company’s stock worth $51,000 after acquiring an additional 386 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in Ingevity in the first quarter valued at $60,000. ETF Managers Group LLC grew its holdings in Ingevity by 11.3% in the first quarter. ETF Managers Group LLC now owns 2,598 shares of the company’s stock valued at $88,000 after purchasing an additional 264 shares during the last quarter. Strs Ohio acquired a new stake in Ingevity in the second quarter valued at $99,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Ingevity by 6.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,729 shares of the company’s stock valued at $131,000 after purchasing an additional 212 shares during the last quarter. 89.36% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. ValuEngine raised Ingevity from a “sell” rating to a “hold” rating in a report on Monday, May 11th. BMO Capital Markets decreased their price objective on Ingevity from $111.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 20th. Oppenheimer reaffirmed a “buy” rating and set a $65.00 price objective on shares of Ingevity in a research note on Wednesday, May 6th. Zacks Investment Research raised Ingevity from a “sell” rating to a “hold” rating and set a $55.00 price objective on the stock in a research note on Wednesday, July 1st. Finally, Wells Fargo & Co increased their price objective on Ingevity from $43.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.14.
NYSE NGVT traded up $2.45 during trading hours on Friday, hitting $58.48. 412,914 shares of the company’s stock were exchanged, compared to its average volume of 269,132. The business’s 50 day moving average is $53.87 and its 200-day moving average is $52.33. Ingevity Corp has a 12-month low of $24.92 and a 12-month high of $101.36. The firm has a market capitalization of $2.41 billion, a P/E ratio of 14.51 and a beta of 2.42. The company has a debt-to-equity ratio of 2.50, a quick ratio of 2.35 and a current ratio of 3.09.
Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 29th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Ingevity had a return on equity of 36.42% and a net margin of 13.89%. The firm had revenue of $270.60 million for the quarter, compared to the consensus estimate of $256.30 million. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was down 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingevity Corp will post 3.55 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 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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