SG Americas Securities LLC Invests $734,000 in Ingevity Co. (NYSE:NGVT)

SG Americas Securities LLC bought a new stake in shares of Ingevity Co. (NYSE:NGVT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,832 shares of the company’s stock, valued at approximately $734,000. SG Americas Securities LLC owned approximately 0.05% of Ingevity as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Ingevity by 809.2% during 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 period. Blue Trust Inc. boosted its stake in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Ingevity during the second quarter worth about $46,000. Everence Capital Management Inc. purchased a new position in Ingevity in the 2nd quarter worth approximately $180,000. Finally, Capstone Investment Advisors LLC purchased a new position in Ingevity in the 1st quarter worth approximately $211,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Price Performance

Ingevity stock opened at $34.23 on Monday. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. The firm has a 50-day moving average price of $36.97 and a 200-day moving average price of $43.52. The firm has a market capitalization of $1.24 billion, a PE ratio of -11.01 and a beta of 1.62.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (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 analysts’ expectations of $407.58 million. During the same quarter last year, the firm earned $1.41 EPS. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, equities research analysts forecast that Ingevity Co. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NGVT. Oppenheimer reduced their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. CJS Securities raised 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 decreased 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 note on Monday, August 5th. Finally, BMO Capital Markets dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.00.

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.