Teacher Retirement System of Texas Has $790,000 Stake in Ingevity Corporation (NYSE:NGVT)

Teacher Retirement System of Texas lifted its stake in shares of Ingevity Corporation (NYSE:NGVT) by 243.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,946 shares of the company’s stock after buying an additional 14,134 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Ingevity worth $790,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NGVT. Oppenheimer Asset Management Inc. increased its position in Ingevity by 5.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 29,287 shares of the company’s stock worth $1,159,000 after purchasing an additional 1,517 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ingevity by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company’s stock valued at $317,000 after purchasing an additional 333 shares in the last quarter. GAMMA Investing LLC grew its stake in Ingevity by 119.1% in the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock valued at $45,000 after purchasing an additional 618 shares during the period. NBC Securities Inc. raised its stake in shares of Ingevity by 112,655.6% in the first quarter. NBC Securities Inc. now owns 10,148 shares of the company’s stock valued at $401,000 after buying an additional 10,139 shares during the period. Finally, First Hawaiian Bank raised its stake in shares of Ingevity by 19.6% during the 1st quarter. First Hawaiian Bank now owns 12,832 shares of the company’s stock valued at $508,000 after purchasing an additional 2,102 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NGVT stock opened at $46.99 on Tuesday. The company has a market cap of $1.71 billion, a PE ratio of -4.82 and a beta of 1.38. The company has a current ratio of 2.00, a quick ratio of 1.08 and a debt-to-equity ratio of 5.68. Ingevity Corporation has a 12-month low of $28.49 and a 12-month high of $51.67. The business’s fifty day simple moving average is $42.75 and its 200-day simple moving average is $41.50.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.25. The firm had revenue of $284.00 million during the quarter, compared to the consensus estimate of $299.13 million. Ingevity had a negative net margin of 26.20% and a positive return on equity of 63.76%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

NGVT has been the subject of several analyst reports. Wells Fargo & Company increased their target price on Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $55.25.

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.