Ingevity Co. (NYSE:NGVT) Shares Bought by Amalgamated Bank

Amalgamated Bank raised its stake in shares of Ingevity Co. (NYSE:NGVT) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,667 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Amalgamated Bank’s holdings in Ingevity were worth $416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in shares of Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after buying an additional 526 shares during the last quarter. Isthmus Partners LLC acquired a new position in shares of Ingevity in the second quarter valued at about $35,000. Blue Trust Inc. raised 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 last quarter. Headlands Technologies LLC acquired a new stake in shares of Ingevity during the second quarter worth about $46,000. Finally, nVerses Capital LLC acquired a new position in Ingevity in the 3rd quarter worth approximately $113,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 1.7 %

Shares of NGVT opened at $45.97 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The firm has a market cap of $1.67 billion, a P/E ratio of -2.96 and a beta of 1.60. The stock’s 50 day moving average is $38.34 and its two-hundred day moving average is $42.24. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.29.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.60 by $0.50. The company had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Analysts predict that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Oppenheimer lowered their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.