Ingevity Corporation $NGVT Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Ingevity Corporation (NYSE:NGVT) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 190,998 shares of the company’s stock after acquiring an additional 14,751 shares during the period. New York State Common Retirement Fund’s holdings in Ingevity were worth $10,541,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Ingevity by 15.6% during the second quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock worth $73,566,000 after buying an additional 230,525 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of Ingevity by 0.3% during the second quarter. Segall Bryant & Hamill LLC now owns 1,283,210 shares of the company’s stock worth $55,294,000 after buying an additional 3,948 shares during the period. Maple Rock Capital Partners Inc. increased its position in Ingevity by 21.7% during the second quarter. Maple Rock Capital Partners Inc. now owns 653,516 shares of the company’s stock worth $28,160,000 after buying an additional 116,700 shares during the period. Simcoe Capital Management LLC grew its position in shares of Ingevity by 188.8% during the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after acquiring an additional 408,508 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ingevity by 311.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after purchasing an additional 454,579 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NGVT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wells Fargo & Company raised their price target on Ingevity from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. BMO Capital Markets increased their price objective on Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Finally, Zacks Research upgraded shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.50.

Ingevity Stock Up 3.8%

Shares of NYSE:NGVT opened at $69.83 on Wednesday. The firm has a market cap of $2.51 billion, a PE ratio of -38.37 and a beta of 1.34. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. Ingevity Corporation has a 12-month low of $28.49 and a 12-month high of $69.89. The company has a fifty day simple moving average of $60.93 and a 200 day simple moving average of $55.91.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, November 5th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.38. The business had revenue of $333.10 million for the quarter, compared to analyst estimates of $360.43 million. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. On average, equities research analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Ingevity Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.