Price T Rowe Associates Inc. MD Acquires 2,541 Shares of Ingevity Co. (NYSE:NGVT)

Price T Rowe Associates Inc. MD lifted its stake in Ingevity Co. (NYSE:NGVT) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,238 shares of the company’s stock after purchasing an additional 2,541 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.10% of Ingevity worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NGVT. Barclays PLC boosted its holdings in Ingevity by 245.3% in the third quarter. Barclays PLC now owns 66,761 shares of the company’s stock worth $2,603,000 after acquiring an additional 47,429 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after purchasing an additional 23,460 shares during the last quarter. Moody National Bank Trust Division increased its stake in Ingevity by 12.4% during the 4th quarter. Moody National Bank Trust Division now owns 41,837 shares of the company’s stock valued at $1,705,000 after purchasing an additional 4,608 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Ingevity in the fourth quarter worth about $239,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Ingevity in the fourth quarter worth approximately $530,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

NGVT has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Wells Fargo & Company boosted their price target on Ingevity from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.75.

Ingevity Stock Up 2.6 %

NGVT stock opened at $40.27 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -3.40 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The business’s 50-day moving average is $37.67 and its two-hundred day moving average is $41.73. Ingevity Co. has a fifty-two week low of $28.49 and a fifty-two week high of $56.28.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to analysts’ expectations of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 EPS. As a group, analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current year.

Ingevity 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.