KLP Kapitalforvaltning AS Invests $4.88 Million in Ingevity Co. (NYSE:NGVT)

KLP Kapitalforvaltning AS bought a new stake in shares of Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 119,800 shares of the company’s stock, valued at approximately $4,882,000.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after buying an additional 271 shares during the period. KBC Group NV lifted its holdings in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after acquiring an additional 433 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Ingevity during the 4th quarter worth about $187,000. Teacher Retirement System of Texas bought a new position in Ingevity during the 4th quarter valued at about $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Ingevity in the 4th quarter worth about $239,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

Ingevity stock opened at $43.00 on Wednesday. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The company has a market capitalization of $1.56 billion, a PE ratio of -3.63 and a beta of 1.53. The company has a 50 day moving average price of $45.41 and a 200-day moving average price of $42.44. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.30.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on NGVT. StockNews.com lowered Ingevity from a “buy” rating to a “hold” rating in a research report on Monday. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ingevity currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

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.