Castleark Management LLC Has $14.06 Million Stake in Ingevity Corp (NGVT)
Castleark Management LLC lifted its position in Ingevity Corp (NYSE:NGVT) by 22.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 173,829 shares of the company’s stock after buying an additional 32,225 shares during the period. Castleark Management LLC owned approximately 0.41% of Ingevity worth $14,056,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of NGVT. SG Americas Securities LLC grew its position in shares of Ingevity by 13.1% in the 1st quarter. SG Americas Securities LLC now owns 18,624 shares of the company’s stock worth $1,372,000 after buying an additional 2,150 shares during the last quarter. Swiss National Bank grew its position in shares of Ingevity by 2.4% in the 1st quarter. Swiss National Bank now owns 73,490 shares of the company’s stock worth $5,415,000 after buying an additional 1,700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Ingevity by 3.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 270,000 shares of the company’s stock worth $19,897,000 after buying an additional 9,443 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Ingevity by 7.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 28,301 shares of the company’s stock worth $2,086,000 after buying an additional 2,033 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Ingevity by 2.6% in the 1st quarter. BlackRock Inc. now owns 5,554,647 shares of the company’s stock worth $409,324,000 after buying an additional 138,697 shares during the last quarter. 92.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on NGVT. Berenberg Bank began coverage on shares of Ingevity in a research report on Thursday, July 12th. They issued a “buy” rating and a $100.00 price objective on the stock. Oppenheimer lifted their price objective on shares of Ingevity from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Zacks Investment Research raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Monday, July 30th. Loop Capital boosted their target price on shares of Ingevity to $89.00 and gave the stock a “$90.05” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Ingevity has a consensus rating of “Buy” and an average target price of $100.33.
Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.13. The company had revenue of $308.60 million for the quarter, compared to the consensus estimate of $305.14 million. Ingevity had a net margin of 14.72% and a return on equity of 46.65%. Ingevity’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. equities research analysts expect that Ingevity Corp will post 3.72 earnings per share for the current year.
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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