ClariVest Asset Management LLC purchased a new stake in Ingevity Co. (NYSE:NGVT – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 81,207 shares of the company’s stock, valued at approximately $3,550,000.
Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after purchasing an additional 279 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Ingevity by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Ingevity by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock valued at $1,402,000 after buying an additional 388 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares during the period. Finally, Catalytic Wealth RIA LLC raised its stake in Ingevity by 10.4% in the 1st quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company’s stock worth $240,000 after acquiring an additional 474 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.
Ingevity Stock Performance
NGVT opened at $32.91 on Wednesday. The stock has a market cap of $1.20 billion, a P/E ratio of -10.58 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The firm has a fifty day moving average price of $40.26 and a 200 day moving average price of $45.03. Ingevity Co. has a 1 year low of $32.90 and a 1 year high of $56.29.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.33.
Check Out Our Latest Analysis on NGVT
Ingevity Company Profile
Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.
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