Cortina Asset Management LLC decreased its stake in Ingevity (NYSE:NGVT) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 364,021 shares of the company’s stock after selling 53,984 shares during the period. Ingevity accounts for about 1.3% of Cortina Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Cortina Asset Management LLC owned 0.86% of Ingevity worth $26,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NGVT. BlackRock Inc. boosted its position in shares of Ingevity by 4.9% during the 4th quarter. BlackRock Inc. now owns 5,415,950 shares of the company’s stock valued at $381,661,000 after purchasing an additional 253,722 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ingevity by 150.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 381,760 shares of the company’s stock valued at $26,902,000 after purchasing an additional 229,540 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Ingevity by 269.9% during the 4th quarter. Two Sigma Investments LP now owns 239,239 shares of the company’s stock valued at $16,859,000 after purchasing an additional 174,555 shares in the last quarter. Palisade Capital Management LLC NJ boosted its position in shares of Ingevity by 96.7% during the 1st quarter. Palisade Capital Management LLC NJ now owns 340,078 shares of the company’s stock valued at $25,060,000 after purchasing an additional 167,198 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Ingevity by 194.7% during the 4th quarter. WINTON GROUP Ltd now owns 193,082 shares of the company’s stock valued at $13,606,000 after purchasing an additional 127,554 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

Several brokerages recently commented on NGVT. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a research report on Saturday, February 24th. SunTrust Banks restated a “buy” rating and set a $90.00 target price on shares of Ingevity in a research report on Friday, February 23rd. Loop Capital lowered Ingevity from a “buy” rating to a “hold” rating and set a $80.00 target price on the stock. in a research report on Tuesday, February 27th. Oppenheimer restated a “buy” rating on shares of Ingevity in a research report on Wednesday, May 9th. Finally, KeyCorp restated an “overweight” rating and set a $89.00 target price (up previously from $78.00) on shares of Ingevity in a research report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Ingevity presently has a consensus rating of “Buy” and an average price target of $86.78.

Shares of Ingevity opened at $76.14 on Friday, Marketbeat reports. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.39 and a current ratio of 2.67. Ingevity has a 52-week low of $53.62 and a 52-week high of $84.87.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.16. The business had revenue of $235.20 million for the quarter, compared to analyst estimates of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. equities research analysts anticipate that Ingevity will post 3.44 earnings per share for the current year.

About Ingevity

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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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