Ingevity Co. (NYSE:NGVT) Stock Position Lifted by Jennison Associates LLC

Jennison Associates LLC grew its position in shares of Ingevity Co. (NYSE:NGVTFree Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,211 shares of the company’s stock after buying an additional 1,623 shares during the period. Jennison Associates LLC owned about 0.06% of Ingevity worth $1,012,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NGVT. TFO Wealth Partners LLC lifted its holdings in Ingevity by 40,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after buying an additional 815 shares during the last quarter. GAMMA Investing LLC bought a new position in Ingevity during the 4th quarter worth approximately $41,000. Principal Securities Inc. bought a new position in Ingevity during the 4th quarter worth approximately $67,000. Quadrant Capital Group LLC lifted its holdings in Ingevity by 207.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Ingevity in the 4th quarter worth approximately $208,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NGVT shares. BMO Capital Markets raised their price target on Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Oppenheimer lifted their price target on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Loop Capital raised their price objective on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Get Our Latest Report on NGVT

Ingevity Price Performance

Shares of NGVT opened at $40.62 on Wednesday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18. The business’s 50 day simple moving average is $47.91 and its 200-day simple moving average is $46.43.

Ingevity (NYSE:NGVTGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, equities analysts anticipate that Ingevity Co. will post 3.63 EPS for the current fiscal year.

About Ingevity

(Free Report)

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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