Aigen Investment Management LP Takes Position in Ingevity Co. (NYSE:NGVT)

Aigen Investment Management LP purchased a new position in Ingevity Co. (NYSE:NGVT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,932 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares during the last quarter. Isthmus Partners LLC purchased a new stake in Ingevity in the 2nd quarter valued at $35,000. Blue Trust Inc. increased its stake in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Ingevity during the 2nd quarter worth $46,000. Finally, nVerses Capital LLC acquired a new position in shares of Ingevity during the 3rd quarter valued at about $113,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Wednesday, August 7th. Oppenheimer decreased their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Wells Fargo & Company cut their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Stock Performance

NYSE:NGVT opened at $45.97 on Friday. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a 50 day moving average price of $38.34 and a 200 day moving average price of $42.24. The stock has a market capitalization of $1.67 billion, a P/E ratio of -2.96 and a beta of 1.60.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.60 by $0.50. The business had revenue of $376.90 million during 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 company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. Equities research analysts forecast that Ingevity Co. will post 2.55 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.