Natixis Advisors LLC Raises Stake in Ingevity Co. (NYSE:NGVT)

Natixis Advisors LLC grew its stake in Ingevity Co. (NYSE:NGVT) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,908 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. Natixis Advisors LLC owned about 0.08% of Ingevity worth $1,088,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. raised its position in shares of Ingevity by 809.2% during the 2nd 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 period. Isthmus Partners LLC purchased a new stake in Ingevity in the second quarter valued at $35,000. Blue Trust Inc. raised its position in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC acquired a new position in shares of Ingevity in the 2nd quarter valued at $46,000. Finally, KBC Group NV grew its holdings in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

NYSE NGVT opened at $47.50 on Wednesday. The company has a fifty day moving average of $39.80 and a two-hundred day moving average of $41.90. The company has a market capitalization of $1.73 billion, a PE ratio of -3.06 and a beta of 1.60. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. As a group, analysts expect that Ingevity Co. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on NGVT. BMO Capital Markets upped their target price on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Oppenheimer dropped their target price 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 upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ingevity has an average rating of “Moderate Buy” and an average target price of $52.17.

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.