Royce & Associates LP Buys 176,447 Shares of Ingevity Co. (NYSE:NGVT)

Royce & Associates LP increased its holdings in Ingevity Co. (NYSE:NGVT) by 23.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 933,677 shares of the company’s stock after buying an additional 176,447 shares during the quarter. Royce & Associates LP’s holdings in Ingevity were worth $36,413,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new position in shares of Ingevity during the 1st quarter valued at about $522,000. Swedbank AB bought a new position in shares of Ingevity during the 1st quarter valued at approximately $3,372,000. American Century Companies Inc. grew its position in Ingevity by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock valued at $33,464,000 after acquiring an additional 53,839 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in Ingevity in the 2nd quarter valued at $748,000. Finally, Sei Investments Co. grew its position in Ingevity by 9.8% in the 1st quarter. Sei Investments Co. now owns 131,221 shares of the company’s stock valued at $6,259,000 after acquiring an additional 11,699 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Down 0.9 %

Ingevity stock opened at $45.18 on Friday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The business’s 50-day moving average price is $37.96 and its 200 day moving average price is $42.31. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

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

Analysts Set New Price Targets

Several brokerages have weighed in on NGVT. CJS Securities upgraded 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. Oppenheimer lowered their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. BMO Capital Markets upped their target price on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, 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.