Ingevity Corporation (NGVT) – What Are Investment Firms Saying About This Stock?

Ingevity Corporation (NYSE:NGVT) has been given a consensus rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $80.00.

A number of analysts have issued reports on NGVT shares. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of Ingevity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th.

Ingevity Trading Up 4.2%

Shares of NGVT opened at $62.67 on Tuesday. Ingevity has a fifty-two week low of $46.38 and a fifty-two week high of $79.29. The company has a market capitalization of $2.15 billion, a PE ratio of 14.46 and a beta of 1.12. The stock has a fifty day moving average of $70.25 and a two-hundred day moving average of $71.22. The company has a debt-to-equity ratio of 22.52, a quick ratio of 1.15 and a current ratio of 1.61.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.07. The business had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $303.91 million. Ingevity had a return on equity of 469.87% and a net margin of 5.28%. As a group, analysts forecast that Ingevity will post 5.40 EPS for the current year.

Insider Buying and Selling at Ingevity

In related news, CEO David Li sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $75.83, for a total value of $379,150.00. Following the sale, the chief executive officer directly owned 120,636 shares of the company’s stock, valued at approximately $9,147,827.88. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,092 shares of company stock worth $1,147,773. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Ingevity in the 2nd quarter valued at $400,545,000. Dimensional Fund Advisors LP increased its holdings in shares of Ingevity by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 798,709 shares of the company’s stock worth $56,889,000 after buying an additional 23,219 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ingevity by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 678,037 shares of the company’s stock worth $48,297,000 after buying an additional 25,800 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Ingevity by 18.2% during the 3rd quarter. Bessemer Group Inc. now owns 452,304 shares of the company’s stock worth $31,999,000 after buying an additional 69,541 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Ingevity by 45.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 364,320 shares of the company’s stock worth $25,776,000 after buying an additional 113,989 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

Ingevity is a specialty chemicals and materials company headquartered in North Charleston, South Carolina. It develops and manufactures high-performance activated carbon and specialty chemical products for industrial and consumer applications.

Its activated carbon products are used in vehicle fuel-vapor emission control and other applications. The company also makes specialty chemicals and polymer materials used in areas such as pavement technologies, coatings, adhesives and elastomers.

Ingevity serves customers in markets around the world.