Virtu Financial LLC Acquires Shares of 3,280 Ingevity Corp (NYSE:NGVT)

Virtu Financial LLC bought a new stake in Ingevity Corp (NYSE:NGVT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,280 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NGVT. Advisory Services Network LLC grew its stake in Ingevity by 54.3% during the second quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after buying an additional 125 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Ingevity by 13.4% in the third quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock worth $143,000 after purchasing an additional 200 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in Ingevity by 2.8% in the third quarter. Virginia Retirement Systems ET AL now owns 14,700 shares of the company’s stock worth $1,247,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Ingevity by 1.6% during the second quarter. Arizona State Retirement System now owns 30,370 shares of the company’s stock worth $3,194,000 after purchasing an additional 485 shares during the last quarter. Finally, Castleark Management LLC grew its holdings in shares of Ingevity by 0.7% during the second quarter. Castleark Management LLC now owns 86,889 shares of the company’s stock worth $9,138,000 after purchasing an additional 625 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

NYSE NGVT opened at $89.81 on Friday. The stock has a fifty day moving average of $88.68 and a 200-day moving average of $89.17. The stock has a market capitalization of $3.78 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.89 and a beta of 2.08. Ingevity Corp has a 52 week low of $72.59 and a 52 week high of $120.41. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.38 and a current ratio of 2.39.

Ingevity (NYSE:NGVT) last released its earnings results 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. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. The company had revenue of $359.90 million during the quarter, compared to the consensus estimate of $365.44 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Equities research analysts forecast that Ingevity Corp will post 4.79 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the company. ValuEngine raised Ingevity from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Stifel Nicolaus decreased their price objective on shares of Ingevity from $109.00 to $99.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Loop Capital raised shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Wells Fargo & Co started coverage on shares of Ingevity in a research report on Tuesday, October 15th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on shares of Ingevity to $121.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.78.

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.

See Also: Earnings Per Share

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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