Comerica Bank Has $3.95 Million Position in Ingevity (NGVT)

Comerica Bank decreased its stake in shares of Ingevity (NYSE:NGVT) by 18.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,465 shares of the company’s stock after selling 10,637 shares during the quarter. Comerica Bank owned about 0.12% of Ingevity worth $3,950,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NGVT. Dimensional Fund Advisors LP lifted its position in Ingevity by 12.7% during the third quarter. Dimensional Fund Advisors LP now owns 412,286 shares of the company’s stock worth $25,756,000 after buying an additional 46,384 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Ingevity by 5.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock worth $1,276,000 after buying an additional 1,000 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Ingevity by 31.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 37,585 shares of the company’s stock worth $2,649,000 after buying an additional 9,091 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Ingevity by 11.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 260,557 shares of the company’s stock worth $18,362,000 after buying an additional 26,655 shares in the last quarter. Finally, Westpac Banking Corp purchased a new position in Ingevity during the fourth quarter worth approximately $4,358,000. Hedge funds and other institutional investors own 92.79% of the company’s stock.

A number of brokerages recently commented on NGVT. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Thursday, May 10th. Oppenheimer reiterated a “buy” rating on shares of Ingevity in a research report on Wednesday, May 9th. KeyCorp lifted their target price on Ingevity from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, May 4th. Loop Capital downgraded Ingevity from a “buy” rating to a “hold” rating and set a $80.00 target price on the stock. in a research report on Tuesday, February 27th. Finally, SunTrust Banks restated a “buy” rating and issued a $90.00 target price on shares of Ingevity in a research report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $86.78.

Ingevity opened at $83.60 on Friday, according to Marketbeat Ratings. Ingevity has a 12 month low of $81.32 and a 12 month high of $81.40. The firm has a market cap of $3.37 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.94 and a beta of 1.04. The company has a quick ratio of 1.39, a current ratio of 2.67 and a debt-to-equity ratio of 2.34.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 2nd. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.16. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm had revenue of $235.20 million during the quarter, compared to analysts’ expectations of $231.76 million. During the same period in the previous year, the firm posted $0.49 EPS. Ingevity’s revenue for the quarter was up 7.6% on a year-over-year basis. research analysts forecast that Ingevity will post 3.44 EPS for the current fiscal year.

Ingevity Profile

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.

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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