4,587 Shares in Ingevity Co. (NYSE:NGVT) Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in Ingevity Co. (NYSE:NGVT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,587 shares of the company’s stock, valued at approximately $187,000.

A number of other hedge funds also recently modified their holdings of NGVT. Vestcor Inc acquired a new position in Ingevity in the third quarter valued at $796,000. Geode Capital Management LLC lifted its stake in shares of Ingevity by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after purchasing an additional 33,973 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after purchasing an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Ingevity during the fourth quarter worth approximately $239,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in Ingevity in the fourth quarter worth approximately $530,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Ingevity from $61.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have given 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 $54.67.

Ingevity Price Performance

NGVT stock opened at $46.11 on Friday. The firm has a market cap of $1.68 billion, a P/E ratio of -3.89 and a beta of 1.64. The firm’s fifty day moving average is $43.33 and its 200 day moving average is $41.14. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

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

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.