Headlands Technologies LLC Purchases Shares of 1,046 Ingevity Co. (NYSE:NGVT)

Headlands Technologies LLC acquired a new stake in shares of Ingevity Co. (NYSE:NGVT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,046 shares of the company’s stock, valued at approximately $46,000.

Several other large investors have also modified their holdings of the stock. Chesapeake Capital Corp IL acquired a new position in shares of Ingevity in the 2nd quarter valued at $278,000. Choreo LLC purchased a new position in shares of Ingevity in the second quarter worth approximately $474,000. Isthmus Partners LLC acquired a new stake in shares of Ingevity during the second quarter valued at approximately $35,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ingevity in the 2nd quarter valued at approximately $351,000. Finally, Wakefield Asset Management LLLP acquired a new position in Ingevity in the 2nd quarter worth approximately $748,000. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $38.82 on Wednesday. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. Ingevity Co. has a one year low of $32.21 and a one year high of $56.29. The business’s 50-day moving average price is $39.57 and its two-hundred day moving average price is $44.59. The company has a market capitalization of $1.41 billion, a P/E ratio of -12.48 and a beta of 1.62.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. Analysts anticipate that Ingevity Co. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on NGVT shares. Wells Fargo & Company cut their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Oppenheimer dropped their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. BMO Capital Markets decreased their price objective on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, August 5th. Finally, CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and a consensus target price of $51.33.

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.