Citigroup Inc. raised its position in shares of Ingevity Corp (NYSE:NGVT) by 56.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,233 shares of the company’s stock after buying an additional 6,940 shares during the period. Citigroup Inc.’s holdings in Ingevity were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Ingevity by 1.8% in the third quarter. BlackRock Inc. now owns 6,092,914 shares of the company’s stock valued at $620,747,000 after acquiring an additional 106,954 shares in the last quarter. Vanguard Group Inc. raised its stake in Ingevity by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,339,656 shares of the company’s stock valued at $442,125,000 after buying an additional 78,496 shares in the last quarter. Vanguard Group Inc raised its stake in Ingevity by 1.8% in the third quarter. Vanguard Group Inc now owns 4,339,656 shares of the company’s stock valued at $442,125,000 after buying an additional 78,496 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ingevity by 732.8% in the third quarter. Wells Fargo & Company MN now owns 776,899 shares of the company’s stock valued at $79,150,000 after buying an additional 683,611 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Ingevity by 15.7% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

Shares of NGVT stock opened at $104.12 on Friday. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.91 and a beta of 1.65. Ingevity Corp has a 1 year low of $70.71 and a 1 year high of $120.41. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.26 and a current ratio of 2.31.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, February 13th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $265.60 million. Ingevity had a return on equity of 53.18% and a net margin of 14.92%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. Analysts predict that Ingevity Corp will post 4.87 earnings per share for the current year.

In related news, CFO John C. Fortson sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $114.46, for a total transaction of $2,060,280.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Phillip John Platt sold 2,725 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total value of $310,840.75. Following the transaction, the chief accounting officer now directly owns 1,137 shares in the company, valued at approximately $129,697.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,125 shares of company stock worth $2,876,065. Corporate insiders own 0.18% of the company’s stock.

A number of analysts have weighed in on the company. Oppenheimer set a $110.00 price target on Ingevity and gave the company a “buy” rating in a research note on Monday, December 10th. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Thursday, November 22nd. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Jefferies Financial Group set a $68.00 price target on Ingevity and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, Loop Capital raised their price target on 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. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $100.22.

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Ingevity Company Profile

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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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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