Moody National Bank Trust Division Makes New Investment in Ingevity Co. (NYSE:NGVT)

Moody National Bank Trust Division acquired a new position in shares of Ingevity Co. (NYSE:NGVT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,550 shares of the company’s stock, valued at approximately $1,028,000. Moody National Bank Trust Division owned 0.06% of Ingevity at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. raised its holdings in Ingevity by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after buying an additional 52,187 shares during the period. Hsbc Holdings PLC raised its holdings in Ingevity by 282.1% during the 4th quarter. Hsbc Holdings PLC now owns 33,084 shares of the company’s stock worth $1,566,000 after buying an additional 24,426 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in Ingevity by 22.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 271,530 shares of the company’s stock worth $12,822,000 after buying an additional 49,620 shares during the period. Invenomic Capital Management LP acquired a new stake in Ingevity during the 4th quarter worth about $2,200,000. Finally, New York State Common Retirement Fund raised its holdings in Ingevity by 3.2% during the 4th quarter. New York State Common Retirement Fund now owns 184,783 shares of the company’s stock worth $8,725,000 after buying an additional 5,771 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Down 2.4 %

Shares of NYSE NGVT opened at $43.47 on Thursday. The business has a fifty day simple moving average of $49.00 and a 200 day simple moving average of $46.43. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The firm had revenue of $340.10 million during the quarter, compared to analyst estimates of $319.15 million. During the same period in the prior year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Ingevity Co. will post 3.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and upped their target price for the company from $52.00 to $62.00 in a report on Monday, April 22nd. BMO Capital Markets upped their target price on Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. Loop Capital upped their target price on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Oppenheimer upped their target price on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their price target on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and an average price target of $55.00.

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.