Geode Capital Management LLC Has $31.82 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Geode Capital Management LLC grew its position in shares of Ingevity Co. (NYSE:NGVT) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 815,661 shares of the company’s stock after purchasing an additional 33,973 shares during the quarter. Geode Capital Management LLC owned about 2.24% of Ingevity worth $31,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in Ingevity by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after buying an additional 300 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Ingevity in the 2nd quarter valued at about $895,000. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Ingevity during the 2nd quarter valued at about $11,416,000. Victory Capital Management Inc. increased its holdings in Ingevity by 1.4% in the second quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock worth $44,964,000 after purchasing an additional 13,771 shares in the last quarter. Finally, Wakefield Asset Management LLLP bought a new stake in Ingevity in the second quarter worth approximately $748,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Up 0.8 %

NYSE NGVT opened at $41.46 on Thursday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The business has a 50 day moving average price of $43.26 and a 200-day moving average price of $41.20. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -2.67 and a beta of 1.62.

Ingevity (NYSE:NGVT) last released its quarterly earnings data 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 business’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, equities analysts expect that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

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.