Ingevity Co. (NYSE:NGVT) Shares Purchased by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC boosted its position in Ingevity Co. (NYSE:NGVT) by 10.4% in the 1st quarter, Holdings Channel reports. The firm owned 5,040 shares of the company’s stock after acquiring an additional 474 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Ingevity were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC grew its holdings in Ingevity by 40,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after buying an additional 815 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Ingevity in the 4th quarter valued at $41,000. Principal Securities Inc. purchased a new stake in Ingevity in the 4th quarter valued at $67,000. Quadrant Capital Group LLC grew its holdings in Ingevity by 207.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after buying an additional 1,401 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Ingevity in the 4th quarter valued at $208,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NGVT shares. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and upped their target price for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Loop Capital increased their price target on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Wells Fargo & Company lowered their price target on Ingevity from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Oppenheimer increased their price target on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets increased their price target on Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Ingevity currently has an average rating of “Hold” and a consensus price target of $54.17.

Ingevity Trading Up 1.6 %

Ingevity stock traded up $0.71 during midday trading on Monday, reaching $45.15. 150,956 shares of the stock traded hands, compared to its average volume of 229,660. The company has a 50-day simple moving average of $46.26 and a two-hundred day simple moving average of $46.31. Ingevity Co. has a 12-month low of $36.66 and a 12-month high of $66.18. The firm has a market cap of $1.64 billion, a PE ratio of -14.52 and a beta of 1.66. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The company had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. During the same period last year, the business posted $1.09 EPS. Ingevity’s revenue for the quarter was down 13.4% on a year-over-year basis. Research analysts expect that Ingevity Co. will post 3.63 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.