Fruth Investment Management trimmed its position in shares of Ingevity Corp (NYSE:NGVT) by 2.3% during the first quarter, HoldingsChannel reports. The firm owned 8,481 shares of the company’s stock after selling 198 shares during the quarter. Fruth Investment Management’s holdings in Ingevity were worth $895,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Ingevity during the 4th quarter worth about $39,699,000. Victory Capital Management Inc. acquired a new position in Ingevity in the 4th quarter valued at about $23,420,000. Neuberger Berman Group LLC grew its stake in Ingevity by 1,448.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 147,816 shares of the company’s stock valued at $15,059,000 after buying an additional 138,272 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in Ingevity in the 4th quarter valued at about $9,696,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Ingevity by 15.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 758,585 shares of the company’s stock valued at $63,486,000 after buying an additional 103,164 shares during the last quarter. 94.20% of the stock is currently owned by institutional investors.
NYSE NGVT opened at $113.34 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.31 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.61. Ingevity Corp has a 12-month low of $74.98 and a 12-month high of $120.41.
Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, February 13th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.29. Ingevity had a net margin of 14.92% and a return on equity of 53.18%. The firm had revenue of $278.60 million during the quarter, compared to the consensus estimate of $265.60 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, research analysts forecast that Ingevity Corp will post 4.86 EPS for the current fiscal year.
In other Ingevity news, CFO John C. Fortson sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $114.46, for a total value of $2,060,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Katherine Pryor Burgeson sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $114.76, for a total transaction of $504,944.00. Following the completion of the transaction, the executive vice president now owns 8,801 shares of the company’s stock, valued at $1,010,002.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,125 shares of company stock valued at $2,876,065. 0.60% of the stock is owned by corporate insiders.
A number of research analysts recently commented on NGVT shares. ValuEngine lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Monday, December 31st. Loop Capital upped their price target on shares of Ingevity to $104.00 and gave the company a “hold” rating in a research note on Friday, February 15th. They noted that the move was a valuation call. Oppenheimer upped their price target on shares of Ingevity from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Jefferies Financial Group set a $68.00 price target on shares of Ingevity and gave the company a “buy” rating in a research note on Thursday, December 20th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $102.44.
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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