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.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Stock Observer and is owned by of Stock Observer. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.thestockobserver.com/2018/01/14/sheets-smith-wealth-management-takes-position-in-ingevity-corp-ngvt.html.
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.
Want to see what other hedge funds are holding NGVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingevity Corp (NYSE:NGVT).
Receive News & Ratings for Ingevity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity and related companies with MarketBeat.com's FREE daily email newsletter.