Ingevity Co. (NYSE:NGVT) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC boosted its stake in shares of Ingevity Co. (NYSE:NGVTFree Report) by 8.3% during the 1st quarter, Holdings Channel reports. The firm owned 21,211 shares of the company’s stock after acquiring an additional 1,623 shares during the quarter. Jennison Associates LLC’s holdings in Ingevity were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in shares of Ingevity by 57.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock valued at $87,572,000 after buying an additional 677,718 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ingevity by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock worth $176,760,000 after purchasing an additional 153,530 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ingevity by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after purchasing an additional 80,856 shares during the period. American Century Companies Inc. boosted its position in Ingevity by 14.4% in the third quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock valued at $23,541,000 after buying an additional 62,418 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ingevity in the 4th quarter worth approximately $2,530,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Down 3.1 %

Shares of NYSE NGVT opened at $40.62 on Wednesday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98. The firm has a fifty day moving average of $47.91 and a 200 day moving average of $46.43. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18.

Ingevity (NYSE:NGVTGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The business had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The company’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. As a group, analysts forecast that Ingevity Co. will post 3.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Loop Capital boosted their price target on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Finally, BMO Capital Markets raised their price objective on shares of Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

View Our Latest Report on Ingevity

Ingevity Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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