Salem Investment Counselors Inc. Buys 2 Shares of Ingevity Corp (NGVT)
Salem Investment Counselors Inc. boosted its stake in shares of Ingevity Corp (NASDAQ:NGVT) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,694 shares of the company’s stock after acquiring an additional 2 shares during the period. Salem Investment Counselors Inc.’s holdings in Ingevity Corp were worth $671,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Balyasny Asset Management LLC acquired a new position in Ingevity Corp in the 2nd quarter valued at $213,000. Voya Investment Management LLC lifted its position in shares of Ingevity Corp by 13.8% during the 2nd quarter. Voya Investment Management LLC now owns 19,893 shares of the company’s stock valued at $1,142,000 after acquiring an additional 2,411 shares during the period. Quantbot Technologies LP lifted its position in shares of Ingevity Corp by 324.6% during the 2nd quarter. Quantbot Technologies LP now owns 5,074 shares of the company’s stock valued at $291,000 after acquiring an additional 3,879 shares during the period. California Public Employees Retirement System lifted its position in shares of Ingevity Corp by 7.3% during the 2nd quarter. California Public Employees Retirement System now owns 88,033 shares of the company’s stock valued at $5,053,000 after acquiring an additional 6,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Ingevity Corp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock valued at $220,255,000 after acquiring an additional 64,918 shares during the period.
Shares of Ingevity Corp (NASDAQ NGVT) traded up 1.977% on Monday, reaching $63.705. 42,960 shares of the company were exchanged. The stock has a market capitalization of $2.68 billion and a PE ratio of 50.883. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $63.95. The firm has a 50 day moving average price of $59.86 and a 200-day moving average price of $59.86.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The firm had revenue of $260.30 million for the quarter, compared to analysts’ expectations of $259.56 million. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Ingevity Corp will post $2.40 EPS for the current fiscal year.
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Several analysts have recently issued reports on NGVT shares. Loop Capital began coverage on Ingevity Corp in a report on Thursday. They set a “buy” rating and a $73.00 target price on the stock. BidaskClub raised Ingevity Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, September 22nd. KeyCorp reaffirmed a “buy” rating and issued a $70.00 price target on shares of Ingevity Corp in a research note on Friday, September 8th. Jefferies Group LLC set a $71.00 price objective on shares of Ingevity Corp and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised shares of Ingevity Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five 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 $67.50.
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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