Pictet Asset Management Ltd. lessened its stake in shares of Ingevity Corp (NYSE:NGVT) by 27.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,163 shares of the company’s stock after selling 44,870 shares during the period. Pictet Asset Management Ltd. owned 0.29% of Ingevity worth $10,195,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in Ingevity by 54.3% during the 2nd quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after acquiring an additional 125 shares during the period. Quest Capital Management Inc. ADV bought a new position in Ingevity during the 3rd quarter worth $74,000. NumerixS Investment Technologies Inc bought a new position in Ingevity during the 2nd quarter worth $84,000. Valeo Financial Advisors LLC increased its stake in Ingevity by 13.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock worth $143,000 after acquiring an additional 200 shares during the period. Finally, SG Americas Securities LLC increased its stake in Ingevity by 43.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,458 shares of the company’s stock worth $209,000 after acquiring an additional 742 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.
NGVT has been the topic of several recent analyst reports. Wells Fargo & Co initiated coverage on Ingevity in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $100.00 price target on the stock. Stifel Nicolaus decreased their price target on Ingevity from $109.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. ValuEngine upgraded Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. BMO Capital Markets decreased their price target on Ingevity to $121.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, Loop Capital upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ingevity has a consensus rating of “Buy” and an average target price of $112.78.
Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.04. The business had revenue of $359.90 million for the quarter, compared to analyst estimates of $365.44 million. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. Ingevity’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities research analysts expect that Ingevity Corp will post 4.79 EPS for the current fiscal 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 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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