Burney Co. Purchases 9,160 Shares of Ingevity Co. (NYSE:NGVT)

Burney Co. raised its position in shares of Ingevity Co. (NYSE:NGVT) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,428 shares of the company’s stock after acquiring an additional 9,160 shares during the quarter. Burney Co. owned approximately 0.33% of Ingevity worth $5,308,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Ingevity by 3.9% in the 4th 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 in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Ingevity in the 1st quarter worth approximately $522,000. Vanguard Group Inc. boosted its position in shares of Ingevity by 4.3% in the 4th 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 in the last quarter. Swedbank AB bought a new stake in shares of Ingevity in the 1st quarter worth approximately $3,372,000. Finally, Brown Advisory Inc. boosted its position in shares of Ingevity by 7.0% in the 4th quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after purchasing an additional 52,187 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

NGVT has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Loop Capital upped their price objective on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets lowered their price objective on Ingevity from $45.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, August 5th. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer lowered their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.33.

Ingevity Stock Performance

Shares of NYSE:NGVT traded up $1.12 during midday trading on Thursday, hitting $39.83. The company had a trading volume of 77,917 shares, compared to its average volume of 238,705. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 0.98. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -12.72 and a beta of 1.66. Ingevity Co. has a 12-month low of $33.49 and a 12-month high of $56.29. The company has a fifty day moving average of $41.28 and a two-hundred day moving average of $45.53.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities research analysts expect that Ingevity Co. will post 3.47 EPS for the current fiscal 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.