Ingevity Co. (NYSE:NGVT) Shares Bought by Jennison Associates LLC

Jennison Associates LLC raised its stake in Ingevity Co. (NYSE:NGVT) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 19,588 shares of the company’s stock after purchasing an additional 249 shares during the period. Jennison Associates LLC’s holdings in Ingevity were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of NGVT. Mackenzie Financial Corp acquired a new position in shares of Ingevity during the 4th quarter worth approximately $208,000. Pathstone Family Office LLC raised its stake in shares of Ingevity by 22.1% during the 3rd quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock worth $211,000 after buying an additional 803 shares during the period. Dakota Wealth Management raised its stake in shares of Ingevity by 36.7% during the 3rd quarter. Dakota Wealth Management now owns 5,301 shares of the company’s stock worth $252,000 after buying an additional 1,422 shares during the period. Inspire Investing LLC raised its stake in shares of Ingevity by 20.5% during the 3rd quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $308,000 after buying an additional 1,101 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of Ingevity by 42.7% during the 3rd quarter. Synovus Financial Corp now owns 7,349 shares of the company’s stock worth $350,000 after buying an additional 2,198 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Stock Up 1.3 %

Shares of NGVT opened at $48.51 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. Ingevity Co. has a one year low of $36.66 and a one year high of $72.76. The stock has a 50 day moving average price of $46.44 and a 200 day moving average price of $43.78.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The firm had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $336.74 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, analysts forecast that Ingevity Co. will post 3.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price target on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Ingevity has a consensus rating of “Hold” and an average target price of $51.40.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.