29,690 Shares in Ingevity Corporation $NGVT Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in Ingevity Corporation (NYSE:NGVT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,690 shares of the company’s stock, valued at approximately $1,279,000. Squarepoint Ops LLC owned approximately 0.08% of Ingevity as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vision One Management Partners LP grew its stake in shares of Ingevity by 1.6% in the 1st quarter. Vision One Management Partners LP now owns 417,178 shares of the company’s stock valued at $16,516,000 after buying an additional 6,500 shares during the period. Range Financial Group LLC bought a new position in Ingevity in the second quarter worth approximately $1,326,000. Teacher Retirement System of Texas grew its stake in Ingevity by 82.1% in the second quarter. Teacher Retirement System of Texas now owns 36,312 shares of the company’s stock valued at $1,565,000 after acquiring an additional 16,366 shares during the period. Nuveen LLC acquired a new stake in Ingevity in the first quarter valued at approximately $4,228,000. Finally, Simcoe Capital Management LLC bought a new stake in shares of Ingevity during the first quarter valued at approximately $8,568,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

NYSE NGVT opened at $58.62 on Friday. The company has a fifty day moving average price of $53.47 and a 200-day moving average price of $51.38. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -32.21 and a beta of 1.40. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.27 and a quick ratio of 0.80. Ingevity Corporation has a 1 year low of $28.49 and a 1 year high of $61.77.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share for the quarter. The business had revenue of $336.00 million for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. As a group, equities research analysts predict that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

NGVT has been the topic of a number of recent research reports. Wall Street Zen cut Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. BMO Capital Markets lifted their price objective on shares of Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Zacks Research upgraded shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Finally, Wells Fargo & Company raised their price target on shares of Ingevity from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.00.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.