Hennion & Walsh Asset Management Inc. Purchases New Position in Ingevity Co. (NYSE:NGVT)

Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,862 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vestcor Inc acquired a new position in shares of Ingevity during the 3rd quarter valued at about $796,000. Geode Capital Management LLC boosted its position in Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares during the period. JPMorgan Chase & Co. boosted its position in Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after purchasing an additional 23,460 shares during the period. Barclays PLC grew its holdings in Ingevity by 245.3% during the third quarter. Barclays PLC now owns 66,761 shares of the company’s stock valued at $2,603,000 after purchasing an additional 47,429 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new position in shares of Ingevity in the third quarter valued at approximately $1,170,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Up 1.1 %

Shares of NGVT stock opened at $47.73 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.29. The stock has a 50 day moving average of $44.08 and a 200-day moving average of $40.77. The firm has a market cap of $1.73 billion, a PE ratio of -3.07 and a beta of 1.65.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, equities analysts predict that Ingevity Co. will post 2.75 EPS for the current year.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets upped their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.