Ingevity Co. (NYSE:NGVT) Position Boosted by Burney Co.

Burney Co. boosted its position in Ingevity Co. (NYSE:NGVT) by 2,449.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,268 shares of the company’s stock after buying an additional 107,865 shares during the quarter. Burney Co. owned approximately 0.31% of Ingevity worth $5,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Ingevity in the 1st quarter worth about $3,372,000. EMC Capital Management lifted its holdings in Ingevity by 107.5% in the first quarter. EMC Capital Management now owns 4,814 shares of the company’s stock worth $230,000 after acquiring an additional 2,494 shares during the last quarter. Comerica Bank boosted its stake in Ingevity by 1.6% in the first quarter. Comerica Bank now owns 70,275 shares of the company’s stock valued at $3,352,000 after acquiring an additional 1,086 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Ingevity by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,218 shares of the company’s stock valued at $1,490,000 after purchasing an additional 4,820 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Ingevity by 7.2% during the 1st quarter. Quadrature Capital Ltd now owns 23,833 shares of the company’s stock worth $1,136,000 after purchasing an additional 1,606 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Price Performance

NYSE:NGVT traded down $1.44 during trading hours on Friday, reaching $41.20. 375,493 shares of the company’s stock were exchanged, compared to its average volume of 221,306. The company has a quick ratio of 0.98, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. The company has a market capitalization of $1.50 billion, a P/E ratio of -13.25 and a beta of 1.66. Ingevity Co. has a 12 month low of $36.66 and a 12 month high of $58.62. The business’s 50-day simple moving average is $45.02 and its two-hundred day simple moving average is $46.41.

Ingevity (NYSE:NGVT) last issued 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). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was down 18.9% compared to the same quarter last year. Sell-side analysts expect that Ingevity Co. will post 3.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on shares of Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. 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. Wells Fargo & Company cut their price target on Ingevity from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Loop Capital increased their price objective on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.83.

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.