Everence Capital Management Inc. Acquires 1,970 Shares of Ingevity Co. (NYSE:NGVT)

Everence Capital Management Inc. grew its holdings in Ingevity Co. (NYSE:NGVT) by 47.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,090 shares of the company’s stock after purchasing an additional 1,970 shares during the quarter. Everence Capital Management Inc.’s holdings in Ingevity were worth $238,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Ingevity by 179.6% during the 3rd quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after buying an additional 1,609 shares during the period. nVerses Capital LLC bought a new stake in shares of Ingevity during the 3rd quarter worth $113,000. Inspire Investing LLC boosted its holdings in shares of Ingevity by 30.5% during the 3rd quarter. Inspire Investing LLC now owns 10,454 shares of the company’s stock worth $408,000 after buying an additional 2,441 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ingevity during the 3rd quarter worth $734,000. Finally, Creative Planning boosted its holdings in shares of Ingevity by 13.4% during the 2nd quarter. Creative Planning now owns 14,072 shares of the company’s stock worth $615,000 after buying an additional 1,662 shares during the period. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NGVT shares. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, August 7th. BMO Capital Markets cut their target price on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, September 30th. Oppenheimer cut their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut 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 note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Ingevity Trading Down 4.4 %

Shares of NGVT stock opened at $32.31 on Wednesday. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -10.39 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. The firm has a fifty day moving average of $36.85 and a 200-day moving average of $42.90.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data 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). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Ingevity Co. will post 2.63 earnings per share for the current fiscal year.

Ingevity 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.