American Century Companies Inc. Has $59.39 Million Stock Position in Ingevity Co. (NYSE:NGVT)

American Century Companies Inc. grew its stake in Ingevity Co. (NYSE:NGVT) by 37.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,457,365 shares of the company’s stock after buying an additional 398,800 shares during the quarter. American Century Companies Inc. owned 4.01% of Ingevity worth $59,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares in the last quarter. KBC Group NV raised its stake in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after purchasing an additional 433 shares during the period. Empowered Funds LLC bought a new stake in shares of Ingevity in the fourth quarter valued at about $187,000. Teacher Retirement System of Texas acquired a new position in shares of Ingevity during the fourth quarter worth about $237,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Ingevity during the fourth quarter worth about $239,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NGVT. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and an average target price of $55.17.

Ingevity Trading Down 0.5 %

Shares of Ingevity stock opened at $43.00 on Wednesday. The stock has a market cap of $1.56 billion, a P/E ratio of -3.63 and a beta of 1.53. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.30. The business’s 50 day moving average is $45.41 and its 200-day moving average is $42.44.

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

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.