Mesirow Financial Investment Management Equity Management lowered its stake in Ingevity Corp (NASDAQ:NGVT) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 304,525 shares of the company’s stock after selling 9,510 shares during the quarter. Mesirow Financial Investment Management Equity Management owned approximately 0.72% of Ingevity Corp worth $19,022,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of NGVT. BlackRock Inc. raised its holdings in shares of Ingevity Corp by 90,224.0% in the 1st quarter. BlackRock Inc. now owns 5,089,759 shares of the company’s stock valued at $309,712,000 after acquiring an additional 5,084,124 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ingevity Corp by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock valued at $220,255,000 after acquiring an additional 64,918 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Ingevity Corp by 7.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,668,566 shares of the company’s stock valued at $153,163,000 after acquiring an additional 184,036 shares in the last quarter. State Street Corp raised its holdings in shares of Ingevity Corp by 5.2% in the 1st quarter. State Street Corp now owns 1,087,471 shares of the company’s stock valued at $66,168,000 after acquiring an additional 53,998 shares in the last quarter. Finally, Chilton Investment Co. LLC raised its holdings in shares of Ingevity Corp by 26.3% in the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock valued at $61,226,000 after acquiring an additional 221,932 shares in the last quarter.
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Ingevity Corp (NASDAQ:NGVT) traded up 0.69% during mid-day trading on Wednesday, hitting $71.72. The company’s stock had a trading volume of 32,091 shares. Ingevity Corp has a 52-week low of $40.41 and a 52-week high of $71.97. The stock has a market cap of $3.02 billion and a P/E ratio of 57.28. The company’s 50 day moving average is $65.38 and its 200-day moving average is $65.27.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.08. The firm had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Ingevity Corp will post $2.41 EPS for the current fiscal year.
NGVT has been the topic of several recent analyst reports. BidaskClub cut Ingevity Corp from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Jefferies Group LLC set a $71.00 price target on Ingevity Corp and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut Ingevity Corp from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Aegis reaffirmed a “buy” rating and issued a $67.00 price target on shares of Ingevity Corp in a report on Tuesday, July 4th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $70.00 price target on shares of Ingevity Corp in a report on Friday, September 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $70.33.
About Ingevity Corp
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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