Strs Ohio trimmed its position in Ingevity Corp (NASDAQ:NGVT) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,800 shares of the company’s stock after selling 3,100 shares during the quarter. Strs Ohio owned 0.14% of Ingevity Corp worth $3,610,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pacad Investment Ltd. purchased a new stake in shares of Ingevity Corp in the 2nd quarter worth $183,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ingevity Corp in the 2nd quarter worth $203,000. Balyasny Asset Management LLC purchased a new stake in shares of Ingevity Corp in the 2nd quarter worth $213,000. Breton Hill Capital Ltd. purchased a new stake in shares of Ingevity Corp in the 2nd quarter worth $234,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Ingevity Corp by 5.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after buying an additional 210 shares during the period.
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Ingevity Corp (NGVT) opened at 71.23 on Wednesday. The stock has a 50 day moving average price of $65.38 and a 200 day moving average price of $65.27. Ingevity Corp has a 52-week low of $40.41 and a 52-week high of $71.77. The company has a market capitalization of $3.00 billion and a price-to-earnings ratio of 56.89.
Ingevity Corp (NASDAQ:NGVT) last released its earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. Ingevity Corp’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Ingevity Corp will post $2.41 earnings per share for the current year.
NGVT has been the subject of several research reports. BidaskClub cut Ingevity Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Jefferies Group LLC set a $71.00 target price on Ingevity Corp and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut Ingevity Corp from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Aegis reissued a “buy” rating and issued a $67.00 price target on shares of Ingevity Corp in a research report on Tuesday, July 4th. Finally, KeyCorp reissued a “buy” rating and issued a $70.00 price target on shares of Ingevity Corp in a research report on Friday, September 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Ingevity Corp currently has a consensus rating of “Buy” and a consensus target price of $70.33.
Ingevity Corp Company Profile
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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