Public Sector Pension Investment Board acquired a new position in shares of Ingevity Corp (NYSE:NGVT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,100 shares of the company’s stock, valued at approximately $3,679,000.
Several other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ingevity by 7.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,090,216 shares of the company’s stock worth $95,264,000 after acquiring an additional 72,946 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Ingevity during the fourth quarter worth approximately $203,000. Americana Partners LLC bought a new stake in shares of Ingevity during the fourth quarter worth approximately $40,000. Oxford Asset Management LLP bought a new stake in shares of Ingevity during the fourth quarter worth approximately $1,213,000. Finally, Amalgamated Bank boosted its holdings in shares of Ingevity by 4.5% during the fourth quarter. Amalgamated Bank now owns 8,167 shares of the company’s stock worth $714,000 after acquiring an additional 352 shares during the period. Institutional investors own 93.63% of the company’s stock.
Shares of NGVT stock traded up $3.27 during trading on Thursday, hitting $36.00. The company had a trading volume of 710,512 shares, compared to its average volume of 821,788. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.16 and a current ratio of 2.15. The firm has a market capitalization of $1.31 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 0.62 and a beta of 2.34. The stock’s 50-day moving average price is $49.39 and its 200 day moving average price is $76.14. Ingevity Corp has a one year low of $24.92 and a one year high of $116.88.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $303.40 million during the quarter, compared to analysts’ expectations of $305.09 million. Ingevity had a return on equity of 48.02% and a net margin of 14.21%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. On average, research analysts anticipate that Ingevity Corp will post 5.05 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on NGVT shares. SunTrust Banks reduced their price objective on Ingevity from to in a report on Tuesday. Loop Capital upgraded Ingevity from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Friday, January 24th. TheStreet cut Ingevity from a “b-” rating to a “c+” rating in a report on Friday, February 21st. Wells Fargo & Co reduced their price objective on Ingevity from $100.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, ValuEngine cut Ingevity from a “hold” rating to a “sell” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Ingevity has a consensus rating of “Buy” and a consensus price target of $94.00.
In other news, Director Diane H. Gulyas purchased 1,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were acquired at an average price of $48.21 per share, with a total value of $48,210.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO D Michael Wilson purchased 7,500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $65.12 per share, for a total transaction of $488,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 19,818 shares of company stock valued at $1,111,255. 0.46% of the stock is currently owned by corporate insiders.
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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