Columbus Circle Investors raised its holdings in Ingevity Corp (NYSE:NGVT) by 17.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 158,205 shares of the company’s stock after acquiring an additional 23,266 shares during the period. Columbus Circle Investors’ holdings in Ingevity were worth $16,638,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Ingevity by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 443,029 shares of the company’s stock valued at $37,077,000 after buying an additional 32,533 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ingevity in the 1st quarter valued at about $327,000. Retirement Systems of Alabama acquired a new stake in Ingevity in the 1st quarter valued at about $5,722,000. Sciencast Management LP acquired a new stake in Ingevity in the 1st quarter valued at about $427,000. Finally, Meeder Asset Management Inc. raised its position in Ingevity by 229.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,472 shares of the company’s stock valued at $262,000 after purchasing an additional 1,721 shares in the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.
NYSE:NGVT opened at $75.12 on Friday. The stock’s 50 day moving average price is $97.22 and its 200 day moving average price is $101.30. The company has a market capitalization of $3.41 billion, a PE ratio of 17.79, a P/E/G ratio of 1.66 and a beta of 1.96. The company has a quick ratio of 1.25, a current ratio of 2.28 and a debt-to-equity ratio of 3.51. Ingevity Corp has a 52-week low of $74.98 and a 52-week high of $120.41.
Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $352.80 million during the quarter, compared to analysts’ expectations of $362.06 million. Ingevity had a return on equity of 54.67% and a net margin of 14.03%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. As a group, sell-side analysts anticipate that Ingevity Corp will post 4.92 EPS for the current fiscal year.
NGVT has been the topic of a number of analyst reports. Berenberg Bank raised Ingevity from a “hold” rating to a “buy” rating and reduced their price target for the company from $120.00 to $110.00 in a research report on Tuesday, May 28th. Jefferies Financial Group lowered Ingevity from a “buy” rating to a “hold” rating and reduced their price target for the company from $129.00 to $107.00 in a research report on Friday, July 19th. ValuEngine lowered Ingevity from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded Ingevity from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets began coverage on Ingevity in a report on Thursday, July 18th. They issued an “outperform” rating and a $101.29 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $108.61.
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 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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