State Board of Administration of Florida Retirement System Has $1.07 Million Stake in Ingevity Co. (NYSE:NGVT)

Posted by Defense World Staff on Sep 21st, 2023

State Board of Administration of Florida Retirement System cut its stake in shares of Ingevity Co. (NYSE:NGVT – Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,892 shares of the company’s stock after selling 1,300 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Ingevity were worth $1,065,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA boosted its stake in shares of Ingevity by 12,500.0% in the 1st quarter. Private Trust Co. NA now owns 504 shares of the company’s stock valued at $36,000 after purchasing an additional 500 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Ingevity by 62.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 694 shares of the company’s stock valued at $50,000 after purchasing an additional 268 shares during the period. Bessemer Group Inc. boosted its position in shares of Ingevity by 547.5% during the 1st quarter. Bessemer Group Inc. now owns 1,554 shares of the company’s stock valued at $111,000 after purchasing an additional 1,314 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Ingevity during the first quarter worth approximately $113,000. Finally, Tower Research Capital LLC TRC lifted its stake in Ingevity by 59.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock valued at $116,000 after buying an additional 607 shares during the period. Institutional investors own 97.70% of the company’s stock.

Ingevity Stock Down 0.8 %

Shares of NYSE:NGVT opened at $48.95 on Thursday. The business’s 50 day moving average is $55.00 and its 200 day moving average is $59.81. Ingevity Co. has a 12-month low of $46.52 and a 12-month high of $90.81. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 10.39 and a beta of 1.87. The company has a quick ratio of 1.21, a current ratio of 2.46 and a debt-to-equity ratio of 2.14.

Ingevity (NYSE:NGVT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. The firm had revenue of $481.80 million for the quarter, compared to the consensus estimate of $486.43 million. Ingevity had a net margin of 10.18% and a return on equity of 27.94%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, sell-side analysts forecast that Ingevity Co. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on NGVT shares. Loop Capital raised shares of Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the stock from $64.00 to $75.00 in a research report on Thursday, July 27th. StockNews.com assumed coverage on shares of Ingevity in a research note on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets cut shares of Ingevity from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $71.00 to $60.00 in a research report on Monday, August 7th. Finally, TheStreet downgraded Ingevity from a “b-” rating to a “c” rating in a research note on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.33.

Get Our Latest Stock Analysis on NGVT

About Ingevity

(Free Report)

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It 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, motorcycles, trucks, and boats.