Barclays PLC Has $2.60 Million Stake in Ingevity Co. (NYSE:NGVT)

Barclays PLC increased its stake in Ingevity Co. (NYSE:NGVT) by 245.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,761 shares of the company’s stock after purchasing an additional 47,429 shares during the quarter. Barclays PLC’s holdings in Ingevity were worth $2,603,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Ingevity by 2.4% in the third quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock valued at $416,000 after purchasing an additional 246 shares during the period. First Horizon Advisors Inc. raised its holdings in Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares during the period. Louisiana State Employees Retirement System lifted its position in Ingevity by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after acquiring an additional 300 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Ingevity by 1.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company’s stock valued at $1,004,000 after acquiring an additional 313 shares during the period. Finally, KBC Group NV grew its position in shares of Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets boosted their price objective on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and an average target price of $52.17.

Ingevity Stock Up 0.8 %

Shares of NGVT opened at $41.46 on Wednesday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a 50-day simple moving average of $43.11 and a 200-day simple moving average of $41.24. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The firm has a market capitalization of $1.51 billion, a P/E ratio of -2.67 and a beta of 1.62.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The company had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. On average, equities research analysts expect 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.