Ingevity Co. (NYSE:NGVT) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC lifted its stake in Ingevity Co. (NYSE:NGVT) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,908 shares of the company’s stock after purchasing an additional 1,751 shares during the period. Natixis Advisors LLC’s holdings in Ingevity were worth $1,088,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NGVT. First Horizon Advisors Inc. lifted its position in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after acquiring an additional 526 shares during the period. Isthmus Partners LLC acquired a new stake in shares of Ingevity in the 2nd quarter worth approximately $35,000. Blue Trust Inc. increased its stake in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares in the last quarter. Headlands Technologies LLC acquired a new position in Ingevity during the second quarter worth $46,000. Finally, KBC Group NV boosted its position in Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

NYSE:NGVT opened at $47.50 on Wednesday. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.06 and a beta of 1.60. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The firm’s fifty day simple moving average is $39.80 and its 200 day simple moving average is $41.90.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Oppenheimer dropped their price objective 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. Wells Fargo & Company cut their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

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.