Inspire Investing LLC Purchases 596 Shares of Ingevity Co. (NYSE:NGVT)

Inspire Investing LLC increased its position in Ingevity Co. (NYSE:NGVT) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,013 shares of the company’s stock after buying an additional 596 shares during the period. Inspire Investing LLC’s holdings in Ingevity were worth $350,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after buying an additional 526 shares during the period. TFO Wealth Partners LLC boosted its holdings in Ingevity by 40,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after buying an additional 815 shares during the period. Blue Trust Inc. boosted its holdings in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after buying an additional 452 shares during the period. Headlands Technologies LLC bought a new position in Ingevity in the 2nd quarter worth $46,000. Finally, Everence Capital Management Inc. bought a new position in Ingevity in the 2nd quarter worth $180,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Down 1.7 %

Shares of NYSE NGVT opened at $39.37 on Tuesday. The firm’s 50-day moving average price is $39.29 and its 200-day moving average price is $44.43. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -12.66 and a beta of 1.62. Ingevity Co. has a 12-month low of $32.21 and a 12-month high of $56.29.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. On average, equities research analysts anticipate that Ingevity Co. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NGVT has been the subject of several recent analyst reports. Oppenheimer dropped their target price on shares of 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 decreased their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. 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 note on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price target on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.33.

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.