ClariVest Asset Management LLC reduced its position in shares of Ingevity Corp (NYSE:NGVT) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,681 shares of the company’s stock after selling 1,643 shares during the quarter. ClariVest Asset Management LLC owned 0.26% of Ingevity worth $11,071,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Partners LLC acquired a new stake in Ingevity during the third quarter worth about $244,000. Parametrica Management Ltd acquired a new stake in Ingevity during the third quarter worth about $296,000. Flagship Harbor Advisors LLC boosted its stake in shares of Ingevity by 47.6% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,526 shares of the company’s stock valued at $261,000 after purchasing an additional 815 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Ingevity in the 3rd quarter valued at approximately $204,000. Finally, Zevin Asset Management LLC boosted its stake in shares of Ingevity by 14.4% in the 3rd quarter. Zevin Asset Management LLC now owns 7,201 shares of the company’s stock valued at $734,000 after purchasing an additional 904 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
NGVT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Ingevity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Berenberg Bank lowered shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a report on Tuesday, October 2nd. KeyCorp raised their price objective on shares of Ingevity from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 27th. ValuEngine lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Loop Capital set a $98.00 price objective on shares of Ingevity and gave the company a “hold” rating in a report on Thursday, August 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ingevity has a consensus rating of “Buy” and a consensus price target of $102.56.
Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, October 24th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.12. The firm had revenue of $311.20 million during the quarter, compared to analyst estimates of $305.50 million. Ingevity had a net margin of 15.53% and a return on equity of 47.45%. Analysts forecast that Ingevity Corp will post 3.79 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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