American International Group Inc. Has $11.55 Million Position in Ingevity Corp (NGVT)

American International Group Inc. boosted its holdings in Ingevity Corp (NYSE:NGVT) by 232.7% in the 1st quarter, Holdings Channel reports. The firm owned 109,327 shares of the company’s stock after buying an additional 76,467 shares during the quarter. American International Group Inc.’s holdings in Ingevity were worth $11,546,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc increased its stake in Ingevity by 1.8% during the third quarter. Vanguard Group Inc now owns 4,339,656 shares of the company’s stock worth $442,125,000 after acquiring an additional 78,496 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ingevity by 15.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 758,585 shares of the company’s stock worth $63,486,000 after acquiring an additional 103,164 shares during the last quarter. Channing Capital Management LLC increased its stake in Ingevity by 8.3% during the fourth quarter. Channing Capital Management LLC now owns 724,842 shares of the company’s stock worth $60,662,000 after acquiring an additional 55,363 shares during the last quarter. Victory Capital Management Inc. increased its stake in Ingevity by 112.5% during the first quarter. Victory Capital Management Inc. now owns 594,789 shares of the company’s stock worth $62,816,000 after acquiring an additional 314,939 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ingevity by 11.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 539,960 shares of the company’s stock worth $45,188,000 after acquiring an additional 57,563 shares during the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Ingevity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Loop Capital upped their price target on Ingevity to $104.00 and gave the stock a “hold” rating in a research note on Friday, February 15th. They noted that the move was a valuation call. Finally, Oppenheimer set a $110.00 price target on Ingevity and gave the stock a “buy” rating in a research note on Thursday, February 14th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.44.

In other news, CAO Phillip John Platt sold 2,725 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total value of $310,840.75. Following the completion of the sale, the chief accounting officer now owns 1,137 shares of the company’s stock, valued at $129,697.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Katherine Pryor Burgeson sold 4,400 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $114.76, for a total value of $504,944.00. Following the completion of the sale, the executive vice president now directly owns 8,801 shares of the company’s stock, valued at approximately $1,010,002.76. The disclosure for this sale can be found here. Insiders sold 25,125 shares of company stock valued at $2,876,065 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Shares of NYSE NGVT opened at $91.28 on Friday. Ingevity Corp has a 1-year low of $74.98 and a 1-year high of $120.41. The company has a quick ratio of 1.14, a current ratio of 2.29 and a debt-to-equity ratio of 4.03. The stock has a market capitalization of $3.86 billion, a PE ratio of 22.10, a P/E/G ratio of 1.61 and a beta of 1.61.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 1st. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. Ingevity had a return on equity of 53.81% and a net margin of 13.70%. The company had revenue of $276.80 million during the quarter, compared to the consensus estimate of $288.07 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts anticipate that Ingevity Corp will post 4.79 EPS for the current fiscal year.

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About Ingevity

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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