Teacher Retirement System of Texas Acquires New Position in Ingevity Co. (NYSE:NGVT)

Teacher Retirement System of Texas bought a new position in shares of Ingevity Co. (NYSE:NGVT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,812 shares of the company’s stock, valued at approximately $237,000.

Several other large investors have also recently modified their holdings of NGVT. State Street Corp boosted its holdings in Ingevity by 14.7% in the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after buying an additional 198,300 shares during the period. Royce & Associates LP lifted its position in shares of Ingevity by 22.4% during the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after acquiring an additional 208,921 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after acquiring an additional 33,973 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Ingevity by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company’s stock valued at $26,335,000 after purchasing an additional 38,639 shares in the last quarter. Finally, Harvey Partners LLC bought a new stake in shares of Ingevity during the 3rd quarter valued at $7,878,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Down 2.0 %

Shares of NYSE NGVT opened at $38.79 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The business has a 50-day moving average of $44.83 and a 200-day moving average of $42.63. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.28 and a beta of 1.53. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.30.

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

Analysts Set New Price Targets

NGVT has been the topic of several analyst reports. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and upped their price target for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ingevity currently has a consensus rating of “Moderate Buy” and an average price target of $55.17.

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.