Ingevity Corporation $NGVT Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in shares of Ingevity Corporation (NYSE:NGVT) by 82.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,312 shares of the company’s stock after acquiring an additional 16,366 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Ingevity worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in Ingevity by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company’s stock worth $490,000 after acquiring an additional 292 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Ingevity by 21.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock worth $66,000 after acquiring an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Ingevity by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company’s stock worth $317,000 after acquiring an additional 333 shares during the period. Inspire Investing LLC lifted its position in Ingevity by 4.1% during the 2nd quarter. Inspire Investing LLC now owns 9,038 shares of the company’s stock worth $389,000 after acquiring an additional 358 shares during the period. Finally, Empowered Funds LLC lifted its position in Ingevity by 12.9% during the 1st quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock worth $205,000 after acquiring an additional 594 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on NGVT. BMO Capital Markets increased their price objective on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price objective on Ingevity from $38.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Ingevity Stock Down 2.3%

NGVT opened at $52.62 on Wednesday. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The business has a 50 day simple moving average of $56.06 and a 200-day simple moving average of $48.22. The stock has a market capitalization of $1.92 billion, a P/E ratio of -8.84 and a beta of 1.40. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $60.77.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Friday, March 24th. The company reported $0.78 EPS for the quarter. The business had revenue of $336.00 million during the quarter. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%. On average, equities analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Ingevity 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.