Ingevity (NGVT) Shares Sold by Comerica Bank

Comerica Bank cut its position in Ingevity (NYSE:NGVT) by 18.0% in the first quarter, HoldingsChannel.com reports. The firm owned 48,465 shares of the company’s stock after selling 10,637 shares during the period. Comerica Bank’s holdings in Ingevity were worth $3,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new stake in shares of Ingevity in the 4th quarter valued at about $427,000. Lazard Asset Management LLC boosted its position in shares of Ingevity by 1.4% in the 4th quarter. Lazard Asset Management LLC now owns 513,444 shares of the company’s stock valued at $36,182,000 after purchasing an additional 6,908 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $171,000 after purchasing an additional 807 shares during the period. Geode Capital Management LLC boosted its position in shares of Ingevity by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 367,698 shares of the company’s stock valued at $25,911,000 after purchasing an additional 24,359 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Ingevity by 3.1% in the 4th quarter. California Public Employees Retirement System now owns 87,633 shares of the company’s stock valued at $6,175,000 after purchasing an additional 2,600 shares during the period. 92.79% of the stock is owned by hedge funds and other institutional investors.

NGVT opened at $83.60 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.67 and a debt-to-equity ratio of 2.34. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.94 and a beta of 1.04. Ingevity has a 52 week low of $81.32 and a 52 week high of $81.40.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.16. The firm had revenue of $235.20 million during the quarter, compared to the consensus estimate of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. equities research analysts expect that Ingevity will post 3.44 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on NGVT. Zacks Investment Research raised Ingevity from a “hold” rating to a “strong-buy” rating and set a $89.00 target price for the company in a research report on Saturday, February 24th. SunTrust Banks reissued a “buy” rating and issued a $90.00 target price on shares of Ingevity in a research report on Friday, February 23rd. Loop Capital cut Ingevity from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Tuesday, February 27th. Oppenheimer reissued a “buy” rating on shares of Ingevity in a research report on Wednesday, May 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $89.00 target price (up from $78.00) on shares of Ingevity in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $86.78.

Ingevity Company 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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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