Channing Capital Management LLC boosted its position in Ingevity Corp (NASDAQ:NGVT) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 901,830 shares of the company’s stock after buying an additional 70,130 shares during the period. Ingevity Corp comprises 2.0% of Channing Capital Management LLC’s portfolio, making the stock its 16th largest position. Channing Capital Management LLC owned 2.14% of Ingevity Corp worth $51,765,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Elkfork Partners LLC raised its position in Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock worth $122,000 after buying an additional 132 shares in the last quarter. IFP Advisors Inc raised its position in Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock worth $135,000 after buying an additional 1,237 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in Ingevity Corp by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the company’s stock worth $155,000 after buying an additional 168 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock worth $188,000 after buying an additional 204 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Ingevity Corp by 46.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after buying an additional 1,117 shares in the last quarter.
Shares of Ingevity Corp (NGVT) traded up 0.64% on Friday, hitting $56.94. The company had a trading volume of 223,777 shares. Ingevity Corp has a 12 month low of $40.24 and a 12 month high of $65.02. The company has a 50-day moving average of $57.61 and a 200 day moving average of $58.21. The stock has a market cap of $2.40 billion and a PE ratio of 45.48.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.08. The business had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Ingevity Corp will post $2.42 EPS for the current fiscal year.
A number of brokerages have weighed in on NGVT. Zacks Investment Research raised Ingevity Corp from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC set a $68.00 price objective on Ingevity Corp and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Aegis reissued a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ingevity Corp currently has an average rating of “Buy” and a consensus target price of $64.75.
In other Ingevity Corp news, Director Jean S. Blackwell acquired 1,500 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $58.38 per share, with a total value of $87,570.00. Following the completion of the transaction, the director now directly owns 4,711 shares in the company, valued at approximately $275,028.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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