Sheets Smith Wealth Management Takes Position in Ingevity Corp (NGVT)

Sheets Smith Wealth Management purchased a new position in Ingevity Corp (NYSE:NGVT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,139 shares of the company’s stock, valued at approximately $292,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Ingevity in the second quarter worth approximately $203,000. Balyasny Asset Management LLC purchased a new stake in shares of Ingevity in the second quarter worth approximately $213,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Ingevity in the third quarter worth approximately $216,000. Teacher Retirement System of Texas purchased a new stake in shares of Ingevity in the third quarter worth approximately $218,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Ingevity by 5.4% in the second 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. Hedge funds and other institutional investors own 91.09% of the company’s stock.

Several research analysts have commented on NGVT shares. Rowe restated an “outperform” rating and set a $90.00 price objective (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. BidaskClub upgraded Ingevity from a “strong sell” rating to a “sell” rating in a report on Friday, September 22nd. Jefferies Group raised their price objective on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Loop Capital restated a “buy” rating and set a $80.00 price objective (up from $76.00) on shares of Ingevity in a report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.17.

Ingevity Corp (NGVT) opened at $74.55 on Friday. The company has a market capitalization of $3,139.67, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.93. Ingevity Corp has a fifty-two week low of $51.01 and a fifty-two week high of $80.18. The company has a current ratio of 2.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.92.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The company had revenue of $264.10 million for the quarter, compared to the consensus estimate of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. Ingevity’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. equities analysts predict that Ingevity Corp will post 2.49 earnings per share for the current fiscal year.

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About Ingevity

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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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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