nVerses Capital LLC Takes Position in Ingevity Co. (NYSE:NGVT)

nVerses Capital LLC bought a new position in shares of Ingevity Co. (NYSE:NGVT) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 2,900 shares of the company’s stock, valued at approximately $113,000.

A number of other hedge funds have also made changes to their positions in the company. Inspire Investing LLC increased its position in shares of Ingevity by 30.5% during the 3rd quarter. Inspire Investing LLC now owns 10,454 shares of the company’s stock worth $408,000 after purchasing an additional 2,441 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ingevity during the 3rd quarter worth about $734,000. Creative Planning increased its position in shares of Ingevity by 13.4% during the 2nd quarter. Creative Planning now owns 14,072 shares of the company’s stock worth $615,000 after purchasing an additional 1,662 shares in the last quarter. Algert Global LLC increased its position in shares of Ingevity by 38.8% during the 2nd quarter. Algert Global LLC now owns 66,603 shares of the company’s stock worth $2,911,000 after purchasing an additional 18,613 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Ingevity by 76.3% during the 2nd quarter. Mackenzie Financial Corp now owns 7,753 shares of the company’s stock worth $339,000 after purchasing an additional 3,356 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NGVT shares. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BMO Capital Markets lowered their price objective on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Finally, Oppenheimer lowered their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Ingevity Stock Down 2.1 %

Shares of NYSE NGVT opened at $34.76 on Monday. The firm has a market capitalization of $1.26 billion, a PE ratio of -11.18 and a beta of 1.62. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The firm’s 50-day moving average is $36.93 and its 200-day moving average is $43.09.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. Equities analysts expect that Ingevity Co. will post 2.63 EPS for the current 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.