Charles Schwab Investment Management Inc. Raises Stock Position in Ingevity Co. (NYSE:NGVT)

Charles Schwab Investment Management Inc. raised its stake in shares of Ingevity Co. (NYSE:NGVT) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 646,267 shares of the company’s stock after buying an additional 38,639 shares during the period. Charles Schwab Investment Management Inc. owned about 1.78% of Ingevity worth $26,335,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its position in Ingevity by 1.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company’s stock valued at $1,004,000 after acquiring an additional 313 shares during the last quarter. KBC Group NV increased its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Ingevity by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 27,908 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,751 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Ingevity by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock worth $53,939,000 after buying an additional 23,497 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Ingevity by 33.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after buying an additional 297,135 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com raised Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Price Performance

Ingevity stock opened at $44.30 on Tuesday. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.30. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The firm’s fifty day moving average is $44.85 and its 200 day moving average is $42.21. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -3.74 and a beta of 1.53.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.66. The business had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. Sell-side analysts forecast that Ingevity Co. will post 4.45 EPS for the current fiscal year.

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.