Comerica Bank trimmed its stake in Ingevity Corp (NYSE:NGVT) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,200 shares of the company’s stock after selling 224 shares during the period. Comerica Bank owned approximately 0.06% of Ingevity worth $2,082,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in Ingevity by 25.4% during the 3rd quarter. California Public Employees Retirement System now owns 80,490 shares of the company’s stock worth $6,829,000 after acquiring an additional 16,278 shares during the period. State of Tennessee Treasury Department lifted its position in Ingevity by 4.4% during the 3rd quarter. State of Tennessee Treasury Department now owns 31,314 shares of the company’s stock worth $2,657,000 after acquiring an additional 1,314 shares during the period. Rice Hall James & Associates LLC lifted its position in Ingevity by 10.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 489,968 shares of the company’s stock worth $41,569,000 after acquiring an additional 46,677 shares during the period. Skylands Capital LLC acquired a new stake in Ingevity during the 3rd quarter worth about $611,000. Finally, Quest Capital Management Inc. ADV acquired a new stake in Ingevity during the 3rd quarter worth about $74,000. 92.36% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on NGVT. SunTrust Banks lowered their price target on Ingevity to $120.00 and set a “buy” rating for the company in a research report on Friday, October 25th. They noted that the move was a valuation call. ValuEngine raised Ingevity from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Loop Capital raised Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets lowered their price target on Ingevity to $121.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Finally, Stifel Nicolaus lowered their price target on Ingevity from $109.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ingevity currently has an average rating of “Buy” and a consensus price target of $112.78.

Shares of NGVT stock opened at $89.75 on Thursday. The stock has a market cap of $3.88 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.94 and a beta of 2.09. The business has a 50-day simple moving average of $85.55 and a 200-day simple moving average of $90.56. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 3.01. Ingevity Corp has a 52-week low of $72.59 and a 52-week high of $120.41.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.04. The business had revenue of $359.90 million during the quarter, compared to analysts’ expectations of $365.44 million. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Sell-side analysts anticipate that Ingevity Corp will post 4.79 earnings per share for the current fiscal year.

Ingevity 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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