Rice Hall James & Associates LLC Increases Stake in Ingevity Co. (NYSE:NGVT)

Rice Hall James & Associates LLC lifted its stake in Ingevity Co. (NYSE:NGVT) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 379,671 shares of the company’s stock after buying an additional 7,481 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Ingevity were worth $14,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Ingevity by 27.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock valued at $151,000 after acquiring an additional 831 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Ingevity by 4.6% during the third quarter. State of Alaska Department of Revenue now owns 20,745 shares of the company’s stock valued at $809,000 after buying an additional 908 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Ingevity by 3.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the company’s stock valued at $686,000 after buying an additional 600 shares in the last quarter. Jade Capital Advisors LLC bought a new stake in Ingevity in the 3rd quarter worth approximately $1,170,000. Finally, Everence Capital Management Inc. raised its holdings in shares of Ingevity by 47.8% during the 3rd quarter. Everence Capital Management Inc. now owns 6,090 shares of the company’s stock worth $238,000 after acquiring an additional 1,970 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NGVT. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. BMO Capital Markets boosted their price objective on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Oppenheimer lowered their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Trading Up 0.4 %

NGVT opened at $41.81 on Friday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.07 and a current ratio of 1.76. The stock’s 50 day moving average price is $36.72 and its 200-day moving average price is $42.42. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -2.69 and a beta of 1.62.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Ingevity Co. will post 2.2 EPS for the current year.

Ingevity Company 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.