Royce & Associates LP Increases Position in Ingevity Co. (NYSE:NGVT)

Royce & Associates LP lifted its holdings in Ingevity Co. (NYSE:NGVT) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,142,598 shares of the company’s stock after purchasing an additional 208,921 shares during the period. Royce & Associates LP’s holdings in Ingevity were worth $46,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after buying an additional 198,300 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Ingevity by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock worth $53,939,000 after buying an additional 23,497 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after buying an additional 297,135 shares in the last quarter. Geode Capital Management LLC increased its stake in Ingevity by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after buying an additional 33,973 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ingevity by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company’s stock worth $26,335,000 after buying an additional 38,639 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several research reports. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Trading Up 1.3 %

Shares of Ingevity stock opened at $43.96 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of -3.71 and a beta of 1.53. The stock’s 50 day simple moving average is $44.76 and its 200-day simple moving average is $42.15. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Analysts predict that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Ingevity Company Profile

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.