Hsbc Holdings PLC Has $1.53 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Hsbc Holdings PLC boosted its position in Ingevity Co. (NYSE:NGVT) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,890 shares of the company’s stock after purchasing an additional 7,935 shares during the period. Hsbc Holdings PLC’s holdings in Ingevity were worth $1,529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after purchasing an additional 279 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Ingevity by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Ingevity by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock worth $1,402,000 after purchasing an additional 388 shares in the last quarter. Blue Trust Inc. increased its holdings in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares in the last quarter. Finally, Catalytic Wealth RIA LLC increased its holdings in Ingevity by 10.4% in the 1st quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company’s stock worth $240,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NGVT. Oppenheimer lowered their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. BMO Capital Markets decreased their price target on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. CJS Securities raised 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. Finally, Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Four equities 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 company has an average rating of “Hold” and an average price target of $51.33.

Ingevity Stock Down 0.1 %

Shares of Ingevity stock opened at $40.41 on Friday. Ingevity Co. has a one year low of $32.21 and a one year high of $56.29. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The stock’s 50-day moving average is $38.83 and its 200 day moving average is $44.29. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -12.99 and a beta of 1.62.

Ingevity (NYSE:NGVT) last announced 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). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million for the quarter, compared to the consensus estimate of $407.58 million. During the same quarter in the previous year, the company earned $1.41 EPS. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities research analysts anticipate that Ingevity Co. will post 2.63 EPS 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.