Ingevity Co. (NYSE:NGVT) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC raised its position in Ingevity Co. (NYSE:NGVT) by 133.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,369 shares of the company’s stock after purchasing an additional 16,765 shares during the period. Gotham Asset Management LLC owned about 0.08% of Ingevity worth $1,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. KBC Group NV increased its position in Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after buying an additional 433 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Ingevity by 6.1% in the fourth quarter. Arizona State Retirement System now owns 10,550 shares of the company’s stock valued at $430,000 after acquiring an additional 611 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Ingevity by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company’s stock valued at $307,000 after acquiring an additional 628 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its position in shares of Ingevity by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company’s stock valued at $658,000 after acquiring an additional 750 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ingevity by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company’s stock valued at $493,000 after acquiring an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

NGVT has been the topic of several recent research reports. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on Ingevity from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Finally, StockNews.com downgraded Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.75.

Ingevity Stock Performance

NYSE NGVT opened at $43.07 on Friday. The business’s 50-day moving average price is $37.18 and its 200 day moving average price is $42.16. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $53.41. The company has a market capitalization of $1.57 billion, a PE ratio of -3.64 and a beta of 1.31. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to the consensus estimate of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. On average, research analysts predict that Ingevity Co. will post 4.45 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.