Dynamic Technology Lab Private Ltd Reduces Holdings in Ingevity Corp (NGVT)

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Dynamic Technology Lab Private Ltd cut its position in Ingevity Corp (NYSE:NGVT) by 42.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,639 shares of the company’s stock after selling 6,457 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ingevity were worth $637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NGVT. Teacher Retirement System of Texas raised its position in shares of Ingevity by 313.3% during the fourth quarter. Teacher Retirement System of Texas now owns 14,396 shares of the company’s stock worth $1,014,000 after acquiring an additional 10,913 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Ingevity by 3.1% during the fourth quarter. California Public Employees Retirement System now owns 87,633 shares of the company’s stock worth $6,175,000 after acquiring an additional 2,600 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ingevity by 9.2% during the fourth quarter. First Trust Advisors LP now owns 35,671 shares of the company’s stock worth $2,514,000 after acquiring an additional 2,992 shares during the last quarter. Rhumbline Advisers raised its position in shares of Ingevity by 16.1% during the fourth quarter. Rhumbline Advisers now owns 98,583 shares of the company’s stock worth $6,947,000 after acquiring an additional 13,677 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Ingevity by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 687,517 shares of the company’s stock worth $48,449,000 after acquiring an additional 6,622 shares during the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.

NGVT has been the subject of a number of analyst reports. TheStreet upgraded Ingevity from a “c” rating to a “b-” rating in a research report on Monday, April 30th. Oppenheimer set a $90.00 price objective on Ingevity and gave the stock a “buy” rating in a research report on Thursday, May 3rd. SunTrust Banks raised their price objective on Ingevity from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Finally, Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, May 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $87.00.

Shares of NGVT stock opened at $80.86 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.67 and a debt-to-equity ratio of 2.34. Ingevity Corp has a fifty-two week low of $55.07 and a fifty-two week high of $84.87.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 2nd. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.16. The business had revenue of $235.20 million during the quarter, compared to the consensus estimate of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. research analysts anticipate that Ingevity Corp will post 3.46 earnings per share for the current year.

Ingevity Company Profile

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.

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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