Arizona State Retirement System Buys 611 Shares of Ingevity Co. (NYSE:NGVT)

Arizona State Retirement System grew its holdings in Ingevity Co. (NYSE:NGVT) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,550 shares of the company’s stock after buying an additional 611 shares during the period. Arizona State Retirement System’s holdings in Ingevity were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Ingevity by 14.7% in the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after buying an additional 198,300 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Ingevity by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock valued at $53,939,000 after buying an additional 23,497 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Ingevity by 33.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after buying an additional 297,135 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after buying an additional 33,973 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Ingevity by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company’s stock valued at $26,335,000 after buying an additional 38,639 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Price Performance

Shares of NYSE NGVT opened at $43.96 on Friday. The stock has a market capitalization of $1.60 billion, a PE ratio of -3.71 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The business has a fifty day moving average price of $44.76 and a two-hundred day moving average price of $42.15. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.30.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. As a group, equities analysts predict that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NGVT shares. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com raised Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

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.