Blue Trust Inc. Acquires 1,609 Shares of Ingevity Co. (NYSE:NGVT)

Blue Trust Inc. increased its holdings in Ingevity Co. (NYSE:NGVT) by 179.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,505 shares of the company’s stock after buying an additional 1,609 shares during the period. Blue Trust Inc.’s holdings in Ingevity were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Ingevity by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock valued at $182,143,000 after buying an additional 75,198 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Ingevity by 2.7% during the second quarter. Thrivent Financial for Lutherans now owns 1,359,556 shares of the company’s stock valued at $59,427,000 after acquiring an additional 35,620 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ingevity by 1.4% in the second quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock valued at $44,964,000 after acquiring an additional 13,771 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ingevity by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after purchasing an additional 88,026 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $35.32 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The company’s 50 day moving average is $36.65 and its 200 day moving average is $42.50. The company has a market cap of $1.28 billion, a PE ratio of -2.97 and a beta of 1.62.

Ingevity (NYSE:NGVT) last posted its 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 business had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, sell-side analysts forecast that Ingevity Co. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, August 7th. BMO Capital Markets lowered their price target on Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, September 30th. Wells Fargo & Company dropped their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer cut their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.