Ingevity Co. (NYSE:NGVT) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its holdings in Ingevity Co. (NYSE:NGVT) by 45.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 862 shares of the company’s stock after buying an additional 271 shares during the quarter. First Horizon Advisors Inc.’s holdings in Ingevity were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NGVT. Segall Bryant & Hamill LLC boosted its position in shares of Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after purchasing an additional 297,135 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in Ingevity in the second quarter valued at about $11,416,000. Royce & Associates LP lifted its position in shares of Ingevity by 23.3% during the 3rd quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after acquiring an additional 176,447 shares during the period. Millennium Management LLC boosted its stake in shares of Ingevity by 46.9% during the 2nd quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock worth $22,054,000 after acquiring an additional 161,014 shares in the last quarter. Finally, Burney Co. grew its holdings in shares of Ingevity by 2,449.8% in the 1st quarter. Burney Co. now owns 112,268 shares of the company’s stock worth $5,355,000 after acquiring an additional 107,865 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NGVT has been the topic of several research reports. BMO Capital Markets upped their target price on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. 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 report on Monday, August 5th. Finally, Oppenheimer dropped their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Price Performance

Ingevity stock opened at $50.21 on Tuesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -3.23 and a beta of 1.60. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The firm’s 50-day moving average is $39.55 and its two-hundred day moving average is $41.93.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same period in the previous year, the company earned $1.21 EPS. Ingevity’s revenue for the quarter was down 15.5% on a year-over-year basis. Equities analysts predict that Ingevity Co. will post 2.55 earnings per share for the current year.

Ingevity Company 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.