Latest Stocks: State Board of Administration of Florida Retirement System Holds Position in Ingevity Corp (NGVT)

Latest Stocks: State Board of Administration of Florida Retirement System Holds Position in Ingevity Corp (NGVT)

State Board of Administration of Florida Retirement System maintained its position in Ingevity Corp (NASDAQ:NGVT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,170 shares of the company’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System’s holdings in Ingevity Corp were worth $1,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elkfork Partners LLC purchased a new position in Ingevity Corp during the fourth quarter valued at approximately $103,000. IFP Advisors Inc increased its position in Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock valued at $135,000 after buying an additional 1,237 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock valued at $188,000 after buying an additional 204 shares in the last quarter. Shelton Capital Management purchased a new position in Ingevity Corp during the fourth quarter valued at approximately $201,000. Finally, Monetary Management Group Inc. increased its position in Ingevity Corp by 35.0% in the fourth quarter. Monetary Management Group Inc. now owns 3,709 shares of the company’s stock valued at $203,000 after buying an additional 961 shares in the last quarter.

Ingevity Corp (NGVT) opened at 57.83 on Tuesday. Ingevity Corp has a 1-year low of $31.33 and a 1-year high of $65.02. The company has a 50-day moving average price of $60.01 and a 200 day moving average price of $56.69. The firm has a market capitalization of $2.44 billion and a P/E ratio of 54.56.

Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $218.50 million during the quarter, compared to analyst estimates of $206.90 million. Analysts expect that Ingevity Corp will post $2.32 earnings per share for the current fiscal year.

Several research firms recently commented on NGVT. Zacks Investment Research downgraded Ingevity Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Jefferies Group LLC increased their price objective on Ingevity Corp from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Finally, Aegis reissued a “buy” rating and issued a $67.00 price objective (up from $60.00) on shares of Ingevity Corp in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Ingevity Corp presently has a consensus rating of “Buy” and a consensus target price of $57.17.

In related news, Director Jean S. Blackwell purchased 1,500 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $58.38 per share, with a total value of $87,570.00. Following the completion of the acquisition, the director now directly owns 4,711 shares in the company, valued at approximately $275,028.18. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. About Ingevity Corp

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