US Bancorp DE cut its stake in Ingevity Corp (NYSE:NGVT) by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,648 shares of the company’s stock after selling 680 shares during the period. US Bancorp DE’s holdings in Ingevity were worth $490,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in Ingevity during the fourth quarter worth approximately $25,000. Advisors Preferred LLC bought a new stake in Ingevity during the first quarter worth approximately $76,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Ingevity during the fourth quarter worth approximately $177,000. Starr International Co. Inc. bought a new stake in Ingevity during the first quarter worth approximately $193,000. Finally, ETF Managers Group LLC boosted its holdings in Ingevity by 8.3% during the first quarter. ETF Managers Group LLC now owns 1,941 shares of the company’s stock worth $205,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.
A number of analysts recently weighed in on NGVT shares. Oppenheimer raised their target price on shares of Ingevity from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. ValuEngine downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Loop Capital upped their price target on shares of Ingevity to $104.00 and gave the company a “hold” rating in a research report on Friday, February 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “strong-buy” rating and set a $124.00 price target for the company in a research report on Monday, February 18th. Finally, Berenberg Bank upgraded shares of 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. Four research analysts have rated the stock with 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 target price of $102.44.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The business had revenue of $276.80 million during the quarter, compared to the consensus estimate of $288.07 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts expect that Ingevity Corp will post 4.79 earnings per share for the current year.
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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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