Barclays PLC trimmed its stake in shares of Ingevity Corp (NYSE:NGVT) by 57.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,559 shares of the company’s stock after selling 36,656 shares during the quarter. Barclays PLC’s holdings in Ingevity were worth $2,306,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Ingevity by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 443,029 shares of the company’s stock worth $37,077,000 after purchasing an additional 32,533 shares in the last quarter. Magnus Financial Group LLC purchased a new position in shares of Ingevity in the 4th quarter worth about $235,000. California State Teachers Retirement System boosted its holdings in shares of Ingevity by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 66,443 shares of the company’s stock worth $5,561,000 after purchasing an additional 1,563 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Ingevity in the 4th quarter worth about $222,000. Finally, Stifel Financial Corp boosted its holdings in shares of Ingevity by 8.3% in the 4th quarter. Stifel Financial Corp now owns 12,997 shares of the company’s stock worth $1,086,000 after purchasing an additional 996 shares in the last quarter. Institutional investors own 93.26% of the company’s stock.
In related news, CAO Phillip John Platt sold 2,725 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total transaction of $310,840.75. Following the completion of the sale, the chief accounting officer now directly owns 1,137 shares in the company, valued at approximately $129,697.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Katherine Pryor Burgeson sold 4,400 shares of the stock in a transaction that occurred on 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 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 have sold a total of 25,125 shares of company stock valued at $2,876,065 over the last 90 days. 0.60% of the stock is currently owned by company insiders.
Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 13th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $278.60 million during the quarter, compared to analysts’ expectations of $265.60 million. Ingevity had a return on equity of 53.18% and a net margin of 14.92%. Ingevity’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. As a group, equities research analysts expect that Ingevity Corp will post 4.87 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Oppenheimer set a $110.00 price objective on Ingevity and gave the stock a “buy” rating in a report on Thursday, February 14th. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Friday, November 30th. Jefferies Financial Group set a $68.00 price objective on Ingevity and gave the stock a “buy” rating in a report on Thursday, December 20th. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Loop Capital upped their price objective on Ingevity to $104.00 and gave the stock a “hold” rating in a report on Friday, February 15th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Ingevity currently has a consensus rating of “Buy” and an average target price of $100.22.
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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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