Axiom International Investors LLC DE Reduces Holdings in Ingevity Corporation (NGVT)
Axiom International Investors LLC DE cut its holdings in Ingevity Corporation (NYSE:NGVT) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,295 shares of the company’s stock after selling 7,195 shares during the quarter. Axiom International Investors LLC DE owned about 0.09% of Ingevity worth $2,267,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Ingevity by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock worth $220,255,000 after acquiring an additional 64,918 shares in the last quarter. Franklin Resources Inc. increased its stake in Ingevity by 7.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,668,566 shares of the company’s stock worth $153,163,000 after purchasing an additional 184,036 shares in the last quarter. Chilton Investment Co. LLC increased its stake in Ingevity by 26.3% in the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock worth $61,226,000 after purchasing an additional 221,932 shares in the last quarter. Channing Capital Management LLC increased its stake in Ingevity by 3.5% in the 3rd quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock worth $58,283,000 after purchasing an additional 31,153 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its stake in Ingevity by 34.3% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock worth $50,932,000 after purchasing an additional 226,830 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Shares of Ingevity Corporation (NGVT) traded up $1.70 on Wednesday, reaching $78.02. The company had a trading volume of 333,700 shares, compared to its average volume of 246,454. The stock has a market cap of $3,212.15, a PE ratio of 30.88, a P/E/G ratio of 2.55 and a beta of 1.66. Ingevity Corporation has a 1 year low of $48.74 and a 1 year high of $78.21. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.36 and a quick ratio of 1.34.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.11. The firm had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. Ingevity’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. equities analysts anticipate that Ingevity Corporation will post 2.49 EPS for the current year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Ingevity from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised Ingevity from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Loop Capital assumed coverage on Ingevity in a research note on Thursday, September 28th. They issued a “buy” rating and a $73.00 price target on the stock. Finally, KeyCorp reissued a “buy” rating and issued a $75.00 price target (up previously from $70.00) on shares of Ingevity in a research note on Thursday, October 5th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $73.17.
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Ingevity Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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