Ingevity Corporation $NGVT Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in Ingevity Corporation (NYSE:NGVT) by 31.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,917 shares of the company’s stock after acquiring an additional 39,571 shares during the period. Public Sector Pension Investment Board owned 0.45% of Ingevity worth $9,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new stake in shares of Ingevity in the 3rd quarter valued at about $28,000. Geneos Wealth Management Inc. increased its position in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after buying an additional 387 shares during the period. Headlands Technologies LLC purchased a new stake in Ingevity in the second quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC purchased a new stake in Ingevity in the second quarter valued at approximately $60,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Ingevity by 51.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock valued at $70,000 after acquiring an additional 550 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $76.34 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 8.39. The company has a market cap of $2.75 billion, a P/E ratio of -41.94 and a beta of 1.34. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $77.46. The company has a 50-day moving average price of $64.77 and a 200 day moving average price of $57.74.

Analyst Ratings Changes

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

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.