Squarepoint Ops LLC Invests $1.28 Million in Ingevity Corporation $NGVT

Squarepoint Ops LLC purchased a new stake in shares of Ingevity Corporation (NYSE:NGVT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,690 shares of the company’s stock, valued at approximately $1,279,000.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ingevity in the 2nd quarter worth approximately $46,000. Elevation Point Wealth Partners LLC purchased a new position in Ingevity in the second quarter valued at approximately $60,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Ingevity by 21.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock valued at $66,000 after purchasing an additional 297 shares during the period. Finally, EverSource Wealth Advisors LLC increased 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 worth $70,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

NYSE NGVT opened at $58.62 on Friday. The company’s 50 day simple moving average is $53.47 and its two-hundred day simple moving average is $51.38. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.27 and a quick ratio of 0.80. Ingevity Corporation has a 1 year low of $28.49 and a 1 year high of $61.77. The stock has a market capitalization of $2.11 billion, a PE ratio of -32.21 and a beta of 1.40.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The firm had revenue of $336.00 million for the quarter. Analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NGVT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen cut shares of Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. BMO Capital Markets raised their price target on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Wells Fargo & Company lifted their price target on Ingevity from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.00.

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.