Sterling Capital Management LLC Has $3.06 Million Holdings in Ingevity Corp (NYSE:NGVT)

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Sterling Capital Management LLC cut its stake in Ingevity Corp (NYSE:NGVT) by 20.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,089 shares of the company’s stock after selling 7,421 shares during the period. Sterling Capital Management LLC owned approximately 0.07% of Ingevity worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NumerixS Investment Technologies Inc acquired a new position in Ingevity in the 2nd quarter worth $84,000. BlackRock Inc. boosted its stake in Ingevity by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,799,123 shares of the company’s stock worth $504,725,000 after purchasing an additional 48,589 shares during the period. Dana Investment Advisors Inc. acquired a new position in Ingevity in the 2nd quarter worth $1,591,000. Castleark Management LLC boosted its stake in Ingevity by 0.7% in the 2nd quarter. Castleark Management LLC now owns 86,889 shares of the company’s stock worth $9,138,000 after purchasing an additional 625 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in Ingevity by 7.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 13,661 shares of the company’s stock worth $1,437,000 after purchasing an additional 952 shares during the period. 91.63% of the stock is owned by hedge funds and other institutional investors.

NYSE:NGVT traded up $1.40 on Thursday, hitting $88.66. 8,555 shares of the company’s stock were exchanged, compared to its average volume of 328,254. The firm has a 50-day moving average price of $82.33 and a 200-day moving average price of $97.26. The company has a debt-to-equity ratio of 3.51, a current ratio of 2.28 and a quick ratio of 1.25. Ingevity Corp has a 52 week low of $72.59 and a 52 week high of $120.41. The company has a market cap of $3.73 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.83 and a beta of 2.09.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.35 by $0.01. Ingevity had a net margin of 14.03% and a return on equity of 54.67%. The firm had revenue of $352.80 million for the quarter, compared to analysts’ expectations of $362.06 million. During the same period in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts expect that Ingevity Corp will post 4.91 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Ingevity from a “buy” rating to a “hold” rating and reduced their target price for the stock from $129.00 to $107.00 in a research note on Friday, July 19th. Berenberg Bank raised shares of Ingevity from a “hold” rating to a “buy” rating and reduced their target price for the stock from $120.00 to $110.00 in a research note on Tuesday, May 28th. Loop Capital raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. ValuEngine cut shares of Ingevity from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets initiated coverage on shares of Ingevity in a research report on Thursday, July 18th. They set an “outperform” rating and a $101.29 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $108.61.

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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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