Hudson Edge Investment Partners Inc. Buys 750 Shares of Ingevity Co. (NYSE:NGVT)

Hudson Edge Investment Partners Inc. raised its stake in Ingevity Co. (NYSE:NGVT) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,150 shares of the company’s stock after buying an additional 750 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Ingevity were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings 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 buying an additional 271 shares during the last quarter. KBC Group NV increased its position in Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after acquiring an additional 530 shares during the period. Blue Trust Inc. raised its stake in shares of Ingevity by 179.6% during the third quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock valued at $98,000 after acquiring an additional 1,609 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ingevity by 27.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after purchasing an additional 831 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Ingevity in the fourth quarter worth $187,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

NYSE NGVT opened at $46.11 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The company has a market cap of $1.68 billion, a PE ratio of -3.89 and a beta of 1.64. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The firm’s 50-day simple moving average is $43.33 and its two-hundred day simple moving average is $41.09.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NGVT shares. BMO Capital Markets increased their price target on Ingevity from $61.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.67.

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.