Proficio Capital Partners LLC Makes New $863,000 Investment in Ingevity Co. (NYSE:NGVT)

Proficio Capital Partners LLC purchased a new position in Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,190 shares of the company’s stock, valued at approximately $863,000. Proficio Capital Partners LLC owned approximately 0.06% of Ingevity as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NGVT. First Horizon Advisors Inc. raised its position in shares of Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after buying an additional 271 shares in the last quarter. KBC Group NV raised its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after buying an additional 530 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at about $187,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ingevity during the 4th quarter valued at about $239,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Ingevity during the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

Ingevity stock opened at $47.35 on Friday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The firm has a market capitalization of $1.72 billion, a P/E ratio of -4.00 and a beta of 1.53. The company’s 50-day moving average is $44.33 and its 200 day moving average is $41.92.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. The company 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 forecast that Ingevity Co. will post 4.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Company 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.