Ingevity Co. (NYSE:NGVT) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in shares of Ingevity Co. (NYSE:NGVT) by 45.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 862 shares of the company’s stock after acquiring an additional 271 shares during the period. First Horizon Advisors Inc.’s holdings in Ingevity were worth $34,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ingevity during the 2nd quarter worth about $46,000. KBC Group NV raised its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after acquiring an additional 530 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Ingevity during the 3rd quarter worth about $113,000. Finally, Nisa Investment Advisors LLC lifted its stake in 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 last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Performance

NYSE NGVT opened at $50.21 on Tuesday. The business’s 50-day moving average price is $39.55 and its 200 day moving average price is $41.93. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The firm has a market cap of $1.83 billion, a P/E ratio of -3.23 and a beta of 1.60. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, equities research analysts expect that Ingevity Co. will post 2.55 earnings per share for the current year.

Analysts Set New Price Targets

NGVT has been the topic of a number of research analyst reports. Oppenheimer cut their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. BMO Capital Markets boosted their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

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.