California Public Employees Retirement System lowered its stake in shares of Ingevity Corporation (NYSE:NGVT) by 3.4% during the third quarter, HoldingsChannel.com reports. The fund owned 85,033 shares of the company’s stock after selling 3,000 shares during the period. California Public Employees Retirement System’s holdings in Ingevity were worth $5,312,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in shares of Ingevity during the second quarter worth $183,000. Flagship Harbor Advisors LLC acquired a new position in shares of Ingevity during the third quarter worth $216,000. Teacher Retirement System of Texas acquired a new position in shares of Ingevity during the third quarter worth $218,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ingevity during the second quarter worth $203,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Ingevity during the second quarter worth $213,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.
Ingevity Corporation (NYSE:NGVT) opened at $73.81 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.36 and a debt-to-equity ratio of 1.92. Ingevity Corporation has a 12 month low of $51.01 and a 12 month high of $80.18. The stock has a market cap of $3,067.27, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.93.
Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.11. Ingevity had a net margin of 9.86% and a return on equity of 58.14%. The company had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Ingevity’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts forecast that Ingevity Corporation will post 2.49 EPS for the current fiscal year.
NGVT has been the subject of a number of analyst reports. BidaskClub downgraded shares of Ingevity from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Jefferies Group boosted their target price on shares of Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, October 4th. Loop Capital reiterated a “buy” rating and set a $80.00 target price (up previously from $76.00) on shares of Ingevity in a research note on Tuesday, November 14th. Finally, Rowe reiterated an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $78.17.
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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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