Channing Capital Management LLC Increases Position in Ingevity Corp (NASDAQ:NGVT)
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 (NASDAQ:NGVT) traded up 0.64% on Friday, reaching $56.94. The company’s stock had a trading volume of 223,777 shares. Ingevity Corp has a 1-year low of $40.24 and a 1-year high of $65.02. The stock has a market capitalization of $2.40 billion and a PE ratio of 45.48. The stock has a 50-day moving average of $57.61 and a 200 day moving average of $58.21.
Ingevity Corp (NASDAQ:NGVT) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The firm 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%. Ingevity Corp’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Ingevity Corp will post $2.42 EPS for the current year.
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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 target on Ingevity Corp and gave the stock a “buy” rating in a research note 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 related news, Director Jean S. Blackwell acquired 1,500 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were bought at an average cost 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 of the company’s stock, valued at $275,028.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through 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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