First Republic Investment Management Inc. increased its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,619 shares of the company’s stock after buying an additional 711 shares during the quarter. First Republic Investment Management Inc.’s holdings in Ingevity were worth $413,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NGVT. Pacad Investment Ltd. bought a new position in Ingevity during the 2nd quarter worth about $183,000. Cubist Systematic Strategies LLC bought a new position in Ingevity during the 2nd quarter worth about $203,000. Balyasny Asset Management LLC bought a new position in Ingevity during the 2nd quarter worth about $213,000. Flagship Harbor Advisors LLC bought a new position in Ingevity during the 3rd quarter worth about $216,000. Finally, Teacher Retirement System of Texas bought a new position in Ingevity during the 3rd quarter worth about $218,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on NGVT shares. BidaskClub cut Ingevity from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Rowe reiterated an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Ingevity in a report on Thursday, November 30th. Loop Capital reiterated a “buy” rating and set a $80.00 target price (up previously from $76.00) on shares of Ingevity in a report on Tuesday, November 14th. Jefferies Group increased their target price on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $70.00 target price on shares of Ingevity in a report on Friday, September 8th. Seven research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $78.17.
Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.11. The company had revenue of $264.10 million during the quarter, compared to analysts’ expectations of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. Ingevity’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. sell-side analysts expect that Ingevity Corporation will post 2.49 earnings per share for the current fiscal year.
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Ingevity Company Profile
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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