Ingevity Corp (NGVT) Shares Sold by Sterling Capital Management LLC

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Sterling Capital Management LLC lessened its stake in shares of Ingevity Corp (NYSE:NGVT) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,837 shares of the company’s stock after selling 5,010 shares during the quarter. Sterling Capital Management LLC’s holdings in Ingevity were worth $4,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its position in shares of Ingevity by 12.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,609 shares of the company’s stock worth $373,000 after purchasing an additional 516 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Ingevity by 2.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,772 shares of the company’s stock valued at $2,084,000 after acquiring an additional 530 shares in the last quarter. First Midwest Bank Trust Division lifted its position in Ingevity by 13.0% in the 2nd quarter. First Midwest Bank Trust Division now owns 4,776 shares of the company’s stock valued at $386,000 after acquiring an additional 551 shares in the last quarter. Alps Advisors Inc. lifted its position in Ingevity by 4.5% in the 2nd quarter. Alps Advisors Inc. now owns 14,729 shares of the company’s stock valued at $1,191,000 after acquiring an additional 629 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Ingevity by 5.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,642 shares of the company’s stock valued at $1,103,000 after acquiring an additional 681 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Ingevity stock opened at $98.66 on Monday. Ingevity Corp has a 52 week low of $66.57 and a 52 week high of $106.59. The company has a current ratio of 2.34, a quick ratio of 1.26 and a debt-to-equity ratio of 2.31. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 2.17 and a beta of 1.47.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, October 24th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.12. Ingevity had a net margin of 15.53% and a return on equity of 47.45%. The firm had revenue of $311.20 million for the quarter, compared to analysts’ expectations of $305.50 million. As a group, sell-side analysts expect that Ingevity Corp will post 3.79 earnings per share for the current fiscal year.

NGVT has been the topic of several recent research reports. Zacks Investment Research cut shares of Ingevity from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Berenberg Bank cut shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, October 2nd. KeyCorp raised their price target on shares of Ingevity from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Loop Capital set a $98.00 price target on shares of Ingevity and gave the company a “hold” rating in a research report on Thursday, August 16th. Finally, ValuEngine cut shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ingevity currently has a consensus rating of “Buy” and a consensus target price of $101.44.

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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