Russell Investments Group Ltd. Has $11.41 Million Holdings in Ingevity Corp (NGVT)

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Russell Investments Group Ltd. raised its stake in Ingevity Corp (NYSE:NGVT) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,088 shares of the company’s stock after acquiring an additional 5,378 shares during the period. Russell Investments Group Ltd. owned about 0.34% of Ingevity worth $11,409,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Summit Trail Advisors LLC boosted its stake in Ingevity by 8,223.0% in the first quarter. Summit Trail Advisors LLC now owns 367,711 shares of the company’s stock worth $368,000 after purchasing an additional 363,293 shares in the last quarter. Palisade Capital Management LLC NJ boosted its stake in Ingevity by 96.7% in the first quarter. Palisade Capital Management LLC NJ now owns 340,078 shares of the company’s stock worth $25,060,000 after purchasing an additional 167,198 shares in the last quarter. BlackRock Inc. boosted its stake in Ingevity by 2.6% in the first quarter. BlackRock Inc. now owns 5,554,647 shares of the company’s stock worth $409,324,000 after purchasing an additional 138,697 shares in the last quarter. Prudential Financial Inc. boosted its stake in Ingevity by 12.3% in the first quarter. Prudential Financial Inc. now owns 505,910 shares of the company’s stock worth $37,281,000 after purchasing an additional 55,230 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Ingevity by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 464,076 shares of the company’s stock worth $34,198,000 after purchasing an additional 40,915 shares in the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Shares of NGVT opened at $100.18 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 1.48 and a debt-to-equity ratio of 2.09. Ingevity Corp has a 12-month low of $58.79 and a 12-month high of $101.79. The firm has a market cap of $4.25 billion, a PE ratio of 31.37, a PEG ratio of 2.26 and a beta of 1.22.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.13. Ingevity had a return on equity of 46.65% and a net margin of 14.72%. The business had revenue of $308.60 million for the quarter, compared to analyst estimates of $305.14 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. research analysts anticipate that Ingevity Corp will post 3.72 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Buckingham Research boosted their price objective on Ingevity from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. SunTrust Banks boosted their price objective on Ingevity from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. KeyCorp boosted their price objective on Ingevity from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th. Berenberg Bank assumed coverage on Ingevity in a research note on Thursday, July 12th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on Ingevity from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Ingevity presently has a consensus rating of “Buy” and a consensus price target of $100.33.

Ingevity 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.

Further Reading: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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