Ingevity Co. (NYSE:NGVT) Stock Holdings Lifted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System raised its position in shares of Ingevity Co. (NYSE:NGVT) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,600 shares of the company’s stock after purchasing an additional 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Ingevity were worth $686,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NGVT. First Horizon Advisors Inc. boosted its holdings in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after buying an additional 526 shares during the period. Isthmus Partners LLC acquired a new stake in shares of Ingevity in the second quarter valued at about $35,000. Blue Trust Inc. increased its stake in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC bought a new position in shares of Ingevity in the second quarter worth about $46,000. Finally, nVerses Capital LLC acquired a new position in shares of Ingevity during the 3rd quarter worth about $113,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Down 0.2 %

Shares of NYSE NGVT opened at $41.92 on Tuesday. The business has a fifty day moving average of $36.96 and a two-hundred day moving average of $42.36. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.07 and a current ratio of 1.76. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29. The stock has a market cap of $1.52 billion, a PE ratio of -2.70 and a beta of 1.60.

Ingevity (NYSE:NGVT) last issued 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 analysts’ expectations of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, equities research analysts expect that Ingevity Co. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on NGVT shares. Wells Fargo & Company dropped their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. BMO Capital Markets boosted their target price 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. Oppenheimer reduced their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingevity presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

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.