Y Intercept Hong Kong Ltd Invests $707,000 in Ingevity Corporation $NGVT

Y Intercept Hong Kong Ltd purchased a new position in shares of Ingevity Corporation (NYSE:NGVT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,814 shares of the company’s stock, valued at approximately $707,000.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the period. Headlands Technologies LLC purchased a new position in Ingevity during the second quarter worth about $46,000. Elevation Point Wealth Partners LLC purchased a new position in Ingevity during the second quarter worth about $60,000. EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 550 shares during the period. Finally, State of Wyoming purchased a new stake in Ingevity in the 2nd quarter valued at approximately $145,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Ingevity Stock Performance

Shares of NGVT stock opened at $67.08 on Tuesday. The stock has a fifty day moving average price of $60.57 and a 200 day moving average price of $55.75. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. The stock has a market cap of $2.41 billion, a PE ratio of -36.85 and a beta of 1.34. Ingevity Corporation has a 1 year low of $28.49 and a 1 year high of $69.80.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.38. The business had revenue of $333.10 million during the quarter, compared to analysts’ expectations of $360.43 million. Ingevity had a positive return on equity of 103.69% and a negative net margin of 5.14%.The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. Sell-side analysts forecast that Ingevity Corporation will post 4.45 earnings per share 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.