Moody National Bank Trust Division Buys 2,040 Shares of Ingevity Co. (NYSE:NGVT)

Moody National Bank Trust Division boosted its holdings in Ingevity Co. (NYSE:NGVT) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,590 shares of the company’s stock after buying an additional 2,040 shares during the period. Moody National Bank Trust Division owned approximately 0.06% of Ingevity worth $1,031,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NGVT. Vanguard Group Inc. raised its holdings in Ingevity by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock worth $182,143,000 after purchasing an additional 75,198 shares during the period. Wellington Management Group LLP raised its holdings in Ingevity by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after purchasing an additional 80,856 shares during the period. Victory Capital Management Inc. raised its holdings in Ingevity by 57.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after purchasing an additional 677,718 shares during the period. Brown Advisory Inc. raised its holdings in Ingevity by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after purchasing an additional 52,187 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ingevity by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock worth $22,853,000 after purchasing an additional 44,910 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on NGVT. Wells Fargo & Company cut their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. BMO Capital Markets lowered their price objective on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Loop Capital increased their price objective on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Finally, Oppenheimer lowered their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.83.

Ingevity Stock Down 14.1 %

Ingevity stock traded down $5.79 during mid-day trading on Monday, reaching $35.41. The company’s stock had a trading volume of 981,580 shares, compared to its average volume of 237,437. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -11.47 and a beta of 1.66. Ingevity Co. has a 12 month low of $34.37 and a 12 month high of $56.81. The business’s 50 day simple moving average is $45.02 and its 200 day simple moving average is $46.49. The company has a debt-to-equity ratio of 4.92, a quick ratio of 0.98 and a current ratio of 1.92.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. During the same period last year, the business posted $1.41 EPS. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, research analysts anticipate that Ingevity Co. will post 3.47 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.