LSV Asset Management has recently announced that it has increased stake in Ingevity Corporation (NYSE:NGVT) by 3.20%. After grabbing 1.08 million shares, the institutional investor is now in possession of 33480.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.89% having worth around $76.01 million. Moreover, Thrivent Asset Management LLC increased its share by 46994.0 to have a control over 0.96 million shares. And Massachusetts Financial Services raised its holdings to 0.1 million shares by acquiring 0.93 million shares or 2.49% of the stake.
Ingevity Corporation (NGVT) concluded trading on 01/18/23 at a closing price of $79.04, with 0.23 million shares of worth about $18.43 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.83% during that period and on Wednesday the price saw a loss of about -1.53%. Currently the company’s common shares owned by public are about 37.84M shares, out of which, 37.05M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 48 times over the past 12 months. They bought 50,636 shares in 23 of the transactions. In 25 selling transactions, insiders dumped 16,526 shares.
Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Ingevity Corporation Vanguard Total Stock Market Index is currently holding 1.1 million shares of worth totaling $77.46 million. The company recently came buying 1431.0 shares which brought its stake up to 2.94% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF sold 206.0 shares, after which its hold over company’s outstanding shares shrunk to 2.90%, leaving 1.08 million shares with the mutual fund that have a worth of about $76.34 million. Vanguard Small Cap Index Fund, after buying 0.93 million shares, have now control over 2.50% of the stake in the company. It holds 76.0 shares of worth $65.7 million.
Ingevity Corporation (NYSE: NGVT) started trading at $80.70, above $0.43 from concluding price of the previous day. However, the stock later moved at a day high price of 81.36, or with a loss of -1.53%. Stock saw a price change of 0.03% in past 5 days and over the past one month there was a price change of 13.48%. Year-to-date (YTD), NGVT shares are showing a performance of 12.21% which increased to 6.85% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $56.31 but also hit the highest price of $81.92 during that period. The average intraday trading volume for Ingevity Corporation shares is 159.94K. The stock is currently trading 7.61% above its 20-day simple moving average (SMA20), while that difference is up 5.85% for SMA50 and it goes to 16.19% higher than SMA200.
LSV Asset Management acquired 1.08 million shares of Ingevity Corporation having value of about $76.01 million. Data submitted at the U.S SEC by LSV Asset Management revealed that the firm now holds 33480.0 shares in the company valued at close to $2646259.2, or have control over 3.20% stake in the company. Ingevity Corporation (NYSE: NGVT) currently have 37.84M outstanding shares and institutions hold larger chunk of about 93.40% of that. Holding of mutual funds in the company is about 44.15% while other institutional holders and individual stake holders have control over 48.46% and 1.06% of the stake respectively.
The stock has a current market capitalization of $2.90B and its 3Y-monthly beta is at 1.80. PE ratio of stock for trailing 12 months is 13.60, while it has posted earnings per share of $5.81 in the same period. Its PEG reads 2.19 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 1.82. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NGVT, volatility over the week remained 2.46% while standing at 2.31% over the month.
Analysts are in expectations that Ingevity Corporation (NGVT) stock would likely to be making an EPS of $1.69 in the current quarter, while forecast for next quarter EPS is $1.06 and it is $6.83 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.45 which is $2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -32.50% while it is estimated to increase by 9.97% in next year. EPS is likely to shrink at an annualized rate of 6.20% for next 5-years, compared to annual growth of 28.80% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on October 11, 2022 offering an Outperform rating for the stock and assigned a target price range of between $89 and $87 to it. Coverage by Stifel stated Ingevity Corporation (NGVT) stock as a Buy in their note to investors on July 31, 2020, suggesting a price target of $66 for the stock. On April 03, 2020, Wells Fargo Downgrade their recommendations, while on January 24, 2020, Loop Capital Upgrade their ratings for the stock with a price target of $94. Stock get an Outperform rating from Wells Fargo on October 16, 2019.