Ingevity Co. (NYSE:NGVT) Shares Bought by Inspire Investing LLC

Inspire Investing LLC lifted its position in shares of Ingevity Co. (NYSE:NGVT) by 30.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,454 shares of the company’s stock after buying an additional 2,441 shares during the quarter. Inspire Investing LLC’s holdings in Ingevity were worth $408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP raised its position in Ingevity by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after acquiring an additional 80,856 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Ingevity during the 1st quarter worth approximately $522,000. Vanguard Group Inc. lifted its stake in Ingevity by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after buying an additional 153,530 shares in the last quarter. Swedbank AB acquired a new stake in Ingevity during the 1st quarter valued at $3,372,000. Finally, American Century Companies Inc. increased its position in Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after buying an additional 53,839 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Trading Down 2.1 %

NYSE NGVT opened at $34.76 on Friday. The company has a market cap of $1.26 billion, a P/E ratio of -11.18 and a beta of 1.62. 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 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The company has a 50-day moving average of $36.93 and a 200-day moving average of $43.14.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. Ingevity’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, equities analysts predict that Ingevity Co. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NGVT. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 7th. Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, BMO Capital Markets reduced their price objective on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Ingevity 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.