Inspire Investing LLC Buys 596 Shares of Ingevity Co. (NYSE:NGVT)

Inspire Investing LLC grew its stake in Ingevity Co. (NYSE:NGVT) by 8.0% during the second quarter, Holdings Channel.com reports. The fund owned 8,013 shares of the company’s stock after purchasing an additional 596 shares during the quarter. Inspire Investing LLC’s holdings in Ingevity were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NGVT. Hsbc Holdings PLC grew its stake in Ingevity by 282.1% in the 4th quarter. Hsbc Holdings PLC now owns 33,084 shares of the company’s stock worth $1,566,000 after acquiring an additional 24,426 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Ingevity by 40,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after purchasing an additional 815 shares in the last quarter. Catalytic Wealth RIA LLC bought a new position in shares of Ingevity during the fourth quarter valued at approximately $216,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Ingevity during the fourth quarter valued at approximately $858,000. Finally, Hudson Edge Investment Partners Inc. boosted its stake in shares of Ingevity by 11.4% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 11,939 shares of the company’s stock valued at $564,000 after purchasing an additional 1,222 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ingevity Trading Down 1.7 %

NYSE:NGVT opened at $39.37 on Tuesday. Ingevity Co. has a 52 week low of $32.21 and a 52 week high of $56.29. The firm has a 50 day moving average of $39.29 and a 200 day moving average of $44.43. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -12.66 and a beta of 1.62.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts anticipate that Ingevity Co. will post 2.63 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.