EFG Asset Management Americas Corp. Purchases 7,742 Shares of Ingevity Corp (NYSE:NGVT)

EFG Asset Management Americas Corp. boosted its position in Ingevity Corp (NYSE:NGVT) by 58.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,007 shares of the company’s stock after purchasing an additional 7,742 shares during the quarter. EFG Asset Management Americas Corp. owned approximately 0.05% of Ingevity worth $1,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Ingevity by 1.0% in the second quarter. BlackRock Inc. now owns 4,799,123 shares of the company’s stock worth $504,725,000 after purchasing an additional 48,589 shares during the last quarter. Invesco Ltd. boosted its position in Ingevity by 96.8% in the second quarter. Invesco Ltd. now owns 1,560,605 shares of the company’s stock worth $164,129,000 after purchasing an additional 767,623 shares during the last quarter. Wells Fargo & Company MN boosted its position in Ingevity by 2.8% in the second quarter. Wells Fargo & Company MN now owns 1,073,494 shares of the company’s stock worth $112,899,000 after purchasing an additional 28,942 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ingevity by 9.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,017,270 shares of the company’s stock worth $86,305,000 after purchasing an additional 83,898 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Ingevity by 24.1% in the second quarter. Victory Capital Management Inc. now owns 738,216 shares of the company’s stock worth $77,638,000 after purchasing an additional 143,427 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Several research analysts have recently commented on the company. Wells Fargo & Co assumed coverage on Ingevity in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $100.00 price objective on the stock. SunTrust Banks decreased their price objective on Ingevity to $120.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. They noted that the move was a valuation call. ValuEngine raised Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. BMO Capital Markets decreased their price objective on Ingevity to $121.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, Loop Capital raised Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.78.

NGVT traded up $0.36 on Tuesday, hitting $89.96. 2,001 shares of the company’s stock traded hands, compared to its average volume of 291,149. The company’s 50 day simple moving average is $85.44 and its 200-day simple moving average is $90.80. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.94 and a beta of 2.09. Ingevity Corp has a one year low of $72.59 and a one year 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.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.04. The company had revenue of $359.90 million for the quarter, compared to the consensus estimate of $365.44 million. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, equities analysts anticipate that Ingevity Corp will post 4.79 EPS for the current fiscal year.

Ingevity 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 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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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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