Chilton Investment Co. LLC Grows Holdings in Ingevity Corp (NGVT)
Chilton Investment Co. LLC raised its position in shares of Ingevity Corp (NASDAQ:NGVT) by 26.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,066,649 shares of the company’s stock after purchasing an additional 221,932 shares during the period. Ingevity Corp makes up about 2.4% of Chilton Investment Co. LLC’s holdings, making the stock its 16th largest position. Chilton Investment Co. LLC owned about 2.53% of Ingevity Corp worth $61,226,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGVT. Mackenzie Financial Corp purchased a new position in Ingevity Corp during the first quarter worth approximately $359,000. UBS Group AG boosted its position in Ingevity Corp by 18.2% in the first quarter. UBS Group AG now owns 7,451 shares of the company’s stock worth $454,000 after buying an additional 1,148 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Ingevity Corp by 7.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 174,316 shares of the company’s stock worth $10,608,000 after buying an additional 12,010 shares during the period. Bank of Montreal Can boosted its position in Ingevity Corp by 1,298.3% in the second quarter. Bank of Montreal Can now owns 77,883 shares of the company’s stock worth $4,470,000 after buying an additional 72,313 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in Ingevity Corp by 6.9% in the first quarter. OppenheimerFunds Inc. now owns 534,701 shares of the company’s stock worth $32,537,000 after buying an additional 34,656 shares during the period.
Shares of Ingevity Corp (NASDAQ:NGVT) traded up 1.49% during mid-day trading on Friday, hitting $63.91. The stock had a trading volume of 329,091 shares. The company’s 50 day moving average price is $58.80 and its 200 day moving average price is $58.63. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $65.02. The stock has a market cap of $2.69 billion and a P/E ratio of 51.05.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The company had revenue of $260.30 million during the quarter, compared to analysts’ expectations of $259.56 million. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Ingevity Corp will post $2.42 EPS for the current fiscal year.
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NGVT has been the topic of a number of research reports. Zacks Investment Research upgraded Ingevity Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Jefferies Group LLC set a $68.00 price target on Ingevity Corp and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Finally, Aegis restated a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ingevity Corp presently has an average rating of “Buy” and an average target price of $65.50.
Ingevity Corp 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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