Illinois Municipal Retirement Fund Has $942,000 Stock Position in Ingevity Co. (NYSE:NGVT)

Illinois Municipal Retirement Fund lessened its position in Ingevity Co. (NYSE:NGVT) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 19,948 shares of the company’s stock after selling 292 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Ingevity worth $942,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Ingevity by 3.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,067,523 shares of the company’s stock worth $98,435,000 after acquiring an additional 73,412 shares in the last quarter. Victory Capital Management Inc. increased its stake in Ingevity by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock valued at $56,029,000 after buying an additional 30,632 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Ingevity by 2.8% during the 3rd quarter. Brown Advisory Inc. now owns 741,755 shares of the company’s stock worth $35,315,000 after buying an additional 20,376 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Ingevity by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock worth $23,541,000 after buying an additional 62,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ingevity by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,066 shares of the company’s stock valued at $20,904,000 after acquiring an additional 25,550 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

NGVT has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.40.

Ingevity Price Performance

Shares of Ingevity stock opened at $48.51 on Monday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81. Ingevity Co. has a 52-week low of $36.66 and a 52-week high of $72.76. The stock’s 50-day simple moving average is $46.44 and its 200 day simple moving average is $43.80.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company had revenue of $371.70 million for the quarter, compared to analysts’ expectations of $336.74 million. During the same period in the prior year, the company posted $0.57 EPS. Ingevity’s revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Ingevity Co. will post 3.69 earnings per share for the current fiscal year.

About Ingevity

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.