MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 781 Shares of Ingevity Co. (NYSE:NGVT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ingevity Co. (NYSE:NGVT) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,710 shares of the company’s stock after purchasing an additional 781 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Ingevity worth $844,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NGVT. KBC Group NV raised its position in shares of Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after buying an additional 433 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity in the 4th quarter valued at about $187,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Ingevity during the 4th quarter valued at about $214,000. Teacher Retirement System of Texas bought a new stake in shares of Ingevity during the 4th quarter valued at about $237,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Ingevity during the fourth quarter worth about $302,000. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NGVT. Wall Street Zen lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Wells Fargo & Company lifted their price objective on shares of Ingevity from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.75.

Ingevity Stock Down 0.6%

Shares of NGVT opened at $41.04 on Tuesday. Ingevity Co. has a 1 year low of $28.49 and a 1 year high of $51.67. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $42.05. The firm has a market cap of $1.50 billion, a P/E ratio of -3.47 and a beta of 1.31.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. The company had revenue of $284.00 million during the quarter, compared to analysts’ expectations of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

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.