23,530 Shares in Ingevity Co. (NYSE:NGVT) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in Ingevity Co. (NYSE:NGVT) during the third quarter, Holdings Channel reports. The firm acquired 23,530 shares of the company’s stock, valued at approximately $918,000.

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

Wall Street Analyst Weigh In

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

Ingevity Stock Up 0.5 %

Shares of NYSE NGVT opened at $47.73 on Thursday. 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 Co. has a 12 month low of $30.90 and a 12 month high of $56.29. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.07 and a beta of 1.60. The business has a 50-day moving average of $39.98 and a 200-day moving average of $41.85.

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