Alambic Investment Management L.P. bought a new position in Ingevity Corp (NYSE:NGVT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,700 shares of the company’s stock, valued at approximately $261,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ingevity by 50.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after buying an additional 807 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Ingevity in the 3rd quarter worth $216,000. Miles Capital Inc. purchased a new position in shares of Ingevity in the 4th quarter worth $231,000. Teacher Retirement System of Texas purchased a new position in shares of Ingevity in the 3rd quarter worth $218,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Ingevity in the 2nd quarter worth $203,000. 91.37% of the stock is currently owned by institutional investors and hedge funds.
NGVT has been the topic of several research reports. Jefferies Group increased their target price on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Loop Capital cut their target price on Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, December 26th. BidaskClub raised Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Zacks Investment Research lowered Ingevity from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Rowe reiterated an “outperform” rating and issued a $90.00 price target (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $78.17.
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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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