Intech Investment Management LLC Makes New $371,000 Investment in Ingevity Co. (NYSE:NGVT)

Intech Investment Management LLC bought a new position in shares of Ingevity Co. (NYSE:NGVT) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 9,511 shares of the company’s stock, valued at approximately $371,000.

Several other hedge funds have also recently modified their holdings of NGVT. First Horizon Advisors Inc. increased its stake in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after purchasing an additional 526 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ingevity during the 2nd quarter worth approximately $46,000. KBC Group NV increased its stake in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Ingevity during the 3rd quarter worth approximately $113,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. CJS Securities upgraded 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 note on Wednesday, August 7th. BMO Capital Markets raised their price target on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Stock Down 1.9 %

Ingevity stock opened at $48.78 on Wednesday. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -3.14 and a beta of 1.62. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The firm has a 50 day simple moving average of $40.83 and a 200 day simple moving average of $41.63.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. During the same period in the previous year, the business earned $1.21 EPS. Ingevity’s revenue was down 15.5% compared to the same quarter last year. On average, 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.