Ingevity Co. (NYSE:NGVT) Holdings Increased by Everence Capital Management Inc.

Everence Capital Management Inc. grew its stake in shares of Ingevity Co. (NYSE:NGVT) by 47.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,090 shares of the company’s stock after buying an additional 1,970 shares during the quarter. Everence Capital Management Inc.’s holdings in Ingevity were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGVT. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Ingevity during the 2nd quarter worth about $11,416,000. Millennium Management LLC raised its holdings in shares of Ingevity by 46.9% in the 2nd quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock worth $22,054,000 after purchasing an additional 161,014 shares in the last quarter. Vanguard Group Inc. raised its holdings 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. Burney Co. raised its holdings in shares of Ingevity by 2,449.8% in the 1st quarter. Burney Co. now owns 112,268 shares of the company’s stock worth $5,355,000 after purchasing an additional 107,865 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ingevity by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after purchasing an additional 88,026 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NGVT has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. BMO Capital Markets cut their price target on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. 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 report on Wednesday, August 7th. Finally, Oppenheimer cut their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Ingevity Stock Performance

Shares of NGVT opened at $32.31 on Wednesday. The company’s 50 day moving average price is $36.85 and its 200 day moving average price is $42.90. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a market capitalization of $1.17 billion, a PE ratio of -10.39 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The company had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $407.58 million. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. Research analysts expect that Ingevity Co. will post 2.63 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.