Great West Life Assurance Co. Can boosted its stake in Ingevity Corp (NASDAQ:NGVT) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 60,428 shares of the company’s stock after buying an additional 2,052 shares during the period. Great West Life Assurance Co. Can’s holdings in Ingevity Corp were worth $3,467,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp purchased a new position in shares of Ingevity Corp during the first quarter valued at about $359,000. OppenheimerFunds Inc. boosted its position in shares of Ingevity Corp by 6.9% in the first quarter. OppenheimerFunds Inc. now owns 534,701 shares of the company’s stock valued at $32,537,000 after buying an additional 34,656 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Ingevity Corp by 7.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 174,316 shares of the company’s stock valued at $10,608,000 after buying an additional 12,010 shares during the period. Hosking Partners LLP boosted its position in shares of Ingevity Corp by 9.9% in the first quarter. Hosking Partners LLP now owns 21,455 shares of the company’s stock valued at $1,306,000 after buying an additional 1,939 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of Ingevity Corp during the first quarter valued at about $353,000.
Ingevity Corp (NGVT) opened at 55.93 on Friday. Ingevity Corp has a one year low of $40.24 and a one year high of $65.02. The firm has a 50-day moving average of $57.79 and a 200 day moving average of $58.27. The stock has a market capitalization of $2.36 billion and a PE ratio of 44.67.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The business 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% compared to the same quarter last year. On average, equities research analysts anticipate that Ingevity Corp will post $2.42 earnings per share for the current fiscal year.
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Several research analysts have issued reports on NGVT shares. Zacks Investment Research cut shares of Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC set a $68.00 target price on shares of Ingevity Corp and gave the stock a “buy” rating in a report on Wednesday, July 5th. Finally, Aegis reaffirmed a “buy” rating and issued a $67.00 target price on shares of Ingevity Corp in a report on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.75.
About Ingevity Corp
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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