Amalgamated Bank Increases Stake in Ingevity Co. (NYSE:NGVT)

Amalgamated Bank grew its holdings in shares of Ingevity Co. (NYSE:NGVT) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,667 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Amalgamated Bank’s holdings in Ingevity were worth $416,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NGVT. First Horizon Advisors Inc. boosted its position in Ingevity by 809.2% during 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 position in Ingevity in the 2nd quarter worth approximately $35,000. Blue Trust Inc. lifted its position in Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after buying an additional 452 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ingevity during the 2nd quarter valued at about $46,000. Finally, nVerses Capital LLC acquired a new position in Ingevity in the 3rd quarter valued at about $113,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 1.7 %

Shares of NYSE:NGVT opened at $45.97 on Friday. The firm has a market capitalization of $1.67 billion, a PE ratio of -2.96 and a beta of 1.60. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The firm’s 50-day moving average is $38.34 and its two-hundred day moving average is $42.24.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.50. The firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Analysts predict that Ingevity Co. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NGVT. Oppenheimer lowered their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. CJS Securities raised 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 note on Wednesday, August 7th. Finally, BMO Capital Markets increased 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ingevity currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

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.