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

Nisa Investment Advisors LLC boosted its position in Ingevity Co. (NYSE:NGVT) by 27.3% during the 3rd quarter, Holdings Channel reports. The fund owned 3,880 shares of the company’s stock after acquiring an additional 831 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ingevity were worth $151,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares in the last quarter. Isthmus Partners LLC purchased a new position in Ingevity in the second quarter valued at $35,000. Blue Trust Inc. raised its stake in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Ingevity during the 2nd quarter worth about $46,000. Finally, nVerses Capital LLC acquired a new position in shares of Ingevity during the 3rd quarter worth about $113,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NGVT shares. BMO Capital Markets raised their target price on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Oppenheimer lowered their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Price Performance

Shares of NYSE NGVT opened at $47.32 on Thursday. The stock has a market cap of $1.72 billion, a P/E ratio of -3.05 and a beta of 1.60. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The stock has a 50 day moving average of $37.23 and a two-hundred day moving average of $42.39. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52.

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

Ingevity 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.