Louisiana State Employees Retirement System Has $686,000 Holdings in Ingevity Co. (NYSE:NGVT)

Louisiana State Employees Retirement System raised its stake in shares of Ingevity Co. (NYSE:NGVT) by 3.5% in the third quarter, Holdings Channel.com reports. The firm owned 17,600 shares of the company’s stock after buying 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Ingevity in the second quarter valued at about $11,416,000. Millennium Management LLC raised its holdings in shares of Ingevity by 46.9% in the second quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock valued at $22,054,000 after purchasing an additional 161,014 shares during the last quarter. Burney Co. raised its holdings in shares of Ingevity by 2,449.8% in the first quarter. Burney Co. now owns 112,268 shares of the company’s stock valued at $5,355,000 after purchasing an additional 107,865 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ingevity by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock valued at $36,977,000 after purchasing an additional 88,026 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Ingevity in the second quarter valued at about $3,550,000. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Down 0.2 %

Shares of NYSE NGVT opened at $41.92 on Tuesday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a market cap of $1.52 billion, a P/E ratio of -2.70 and a beta of 1.60. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The business has a 50-day simple moving average of $36.96 and a two-hundred day simple moving average of $42.36.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Research analysts anticipate that Ingevity Co. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NGVT. Oppenheimer reduced their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company reduced their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BMO Capital Markets lifted their price objective 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. Finally, CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.