Ingevity Corporation (NYSE:NGVT) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. grew its position in Ingevity Corporation (NYSE:NGVT) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 938,820 shares of the company’s stock after buying an additional 10,600 shares during the period. Brown Advisory Inc. owned 2.58% of Ingevity worth $37,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its position in Ingevity by 53.3% in the fourth quarter. Deutsche Bank AG now owns 33,936 shares of the company’s stock valued at $1,383,000 after buying an additional 11,801 shares during the last quarter. Palisade Capital Management LP raised its stake in shares of Ingevity by 6.8% in the 1st quarter. Palisade Capital Management LP now owns 511,059 shares of the company’s stock valued at $20,233,000 after acquiring an additional 32,511 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Ingevity in the 4th quarter worth approximately $863,000. Raymond James Financial Inc. purchased a new position in shares of Ingevity during the 4th quarter worth approximately $3,018,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Ingevity by 5.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 29,287 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,517 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of NGVT opened at $47.17 on Thursday. The company has a market cap of $1.72 billion, a P/E ratio of -4.84 and a beta of 1.38. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $51.67. The company has a quick ratio of 1.08, a current ratio of 2.00 and a debt-to-equity ratio of 5.68. The firm’s 50 day moving average price is $42.20 and its 200 day moving average price is $41.41.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.25. The business had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a positive return on equity of 63.76% and a negative net margin of 26.20%. The company’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, research analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on NGVT shares. Wells Fargo & Company upped their price target on Ingevity from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $52.75.

About Ingevity

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.