Ingevity Co. (NYSE:NGVT) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Ingevity Co. (NYSE:NGVT) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 58,145 shares of the company’s stock after purchasing an additional 2,262 shares during the period. Envestnet Asset Management Inc.’s holdings in Ingevity were worth $2,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after buying an additional 815 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares during the period. Headlands Technologies LLC acquired a new position in Ingevity during the 2nd quarter worth about $46,000. Finally, Everence Capital Management Inc. purchased a new position in Ingevity during the 2nd quarter valued at about $180,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Trading Up 12.0 %

Shares of NYSE:NGVT opened at $37.04 on Friday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company’s 50 day moving average is $37.95 and its two-hundred day moving average is $43.99. The company has a market cap of $1.35 billion, a PE ratio of -11.91 and a beta of 1.62. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. Equities analysts predict that Ingevity Co. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGVT. Wells Fargo & Company reduced their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. BMO Capital Markets dropped their price target on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, September 30th. Finally, Oppenheimer reduced their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and a consensus price target of $51.00.

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.