946 Shares in Ingevity Co. (NYSE:NGVT) Acquired by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in Ingevity Co. (NYSE:NGVT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 946 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Ingevity by 3.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,067,523 shares of the company’s stock valued at $98,435,000 after buying an additional 73,412 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ingevity by 2.7% during the third quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock worth $56,029,000 after purchasing an additional 30,632 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Ingevity by 2.8% during the third quarter. Brown Advisory Inc. now owns 741,755 shares of the company’s stock worth $35,315,000 after purchasing an additional 20,376 shares in the last quarter. American Century Companies Inc. increased its position in shares of Ingevity by 14.4% during the third quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock worth $23,541,000 after purchasing an additional 62,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ingevity by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,066 shares of the company’s stock valued at $20,904,000 after purchasing an additional 25,550 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NGVT. Wells Fargo & Company lifted 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. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Oppenheimer raised their price objective on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and an average target price of $52.50.

Ingevity Stock Performance

NYSE:NGVT opened at $53.56 on Friday. Ingevity Co. has a twelve month low of $36.66 and a twelve month high of $68.11. The company has a market capitalization of $1.94 billion, a P/E ratio of -17.22 and a beta of 1.79. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. The firm has a 50-day moving average price of $46.99 and a two-hundred day moving average price of $44.16.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. Ingevity had a positive return on equity of 17.83% and a negative net margin of 6.84%. The business had revenue of $340.10 million for the quarter, compared to the consensus estimate of $319.15 million. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s revenue was down 13.4% on a year-over-year basis. As a group, research analysts expect that Ingevity Co. will post 3.69 earnings per share for the current fiscal year.

Ingevity Company Profile

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.