Today, California Public Employees Retirement System Cuts Position in Ingevity Corp (NGVT)

Today, California Public Employees Retirement System Cuts Position in Ingevity Corp (NGVT)

California Public Employees Retirement System lowered its position in Ingevity Corp (NASDAQ:NGVT) by 6.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 92,099 shares of the company’s stock after selling 6,300 shares during the period. California Public Employees Retirement System’s holdings in Ingevity Corp were worth $4,246,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of NGVT. Teacher Retirement System of Texas acquired a new position in Ingevity Corp during the second quarter worth about $202,000. Vanguard Group Inc. acquired a new position in Ingevity Corp during the second quarter worth about $118,442,000. Ameriprise Financial Inc. acquired a new position in Ingevity Corp during the second quarter worth about $7,333,000. PineBridge Investments L.P. acquired a new position in Ingevity Corp during the second quarter worth about $181,000. Finally, Brown Advisory Inc. acquired a new position in Ingevity Corp during the second quarter worth about $436,000.

Shares of Ingevity Corp (NASDAQ:NGVT) traded down 2.71% during midday trading on Monday, hitting $52.12. The stock had a trading volume of 134,727 shares. The stock’s 50-day moving average is $45.24 and its 200-day moving average is $40.47. The stock has a market cap of $2.19 billion and a PE ratio of 67.60. Ingevity Corp has a 12 month low of $24.71 and a 12 month high of $53.59.

Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $252 million for the quarter, compared to the consensus estimate of $247.60 million. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Ingevity Corp will post $1.97 EPS for the current year.

A number of equities analysts recently issued reports on NGVT shares. SunTrust Banks Inc. reiterated a “buy” rating on shares of Ingevity Corp in a report on Saturday, August 6th. Zacks Investment Research upgraded Ingevity Corp from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $50.00 price objective (up from $44.00) on shares of Ingevity Corp in a research note on Wednesday, September 7th. Jefferies Group initiated coverage on Ingevity Corp in a research note on Friday, September 23rd. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Buckingham Research initiated coverage on Ingevity Corp in a research note on Friday, September 23rd. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.33.

About Ingevity Corp

Ingevity Corporation is a manufacturer of specialty chemicals, carbon materials and technologies. The Company operates through two segments: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks.

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