Blue Trust Inc. Buys 1,609 Shares of Ingevity Co. (NYSE:NGVT)

Blue Trust Inc. lifted its stake in shares of Ingevity Co. (NYSE:NGVT) by 179.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,505 shares of the company’s stock after acquiring an additional 1,609 shares during the quarter. Blue Trust Inc.’s holdings in Ingevity were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new position in shares of Ingevity in the first quarter worth $522,000. Vanguard Group Inc. lifted its stake in 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. Swedbank AB bought a new position in shares of Ingevity during the 1st quarter valued at about $3,372,000. American Century Companies Inc. grew its position in shares of Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock valued at $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Ingevity in the first quarter worth about $211,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NGVT has been the subject of a number of recent research reports. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. BMO Capital Markets reduced their target price 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. Oppenheimer decreased their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three 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 target price of $51.00.

Ingevity Trading Down 1.2 %

NGVT opened at $35.32 on Wednesday. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. The stock’s 50 day moving average price is $36.65 and its 200-day moving average price is $42.50. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -2.97 and a beta of 1.62.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. On average, equities analysts forecast that Ingevity Co. will post 2.2 EPS for the current 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.