Ingevity Corporation $NGVT Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its stake in shares of Ingevity Corporation (NYSE:NGVT) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,500 shares of the company’s stock after acquiring an additional 4,200 shares during the period. KLP Kapitalforvaltning AS owned 0.35% of Ingevity worth $5,451,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Ingevity by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 21,693 shares of the company’s stock valued at $934,000 after acquiring an additional 1,552 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Ingevity by 2.7% during the second quarter. Wedge Capital Management L L P NC now owns 93,784 shares of the company’s stock valued at $4,041,000 after acquiring an additional 2,425 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Ingevity during the second quarter valued at $1,326,000. First Hawaiian Bank boosted its stake in shares of Ingevity by 19.6% during the first quarter. First Hawaiian Bank now owns 12,832 shares of the company’s stock valued at $508,000 after acquiring an additional 2,102 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Ingevity by 306.1% during the first quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock valued at $3,519,000 after acquiring an additional 66,995 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NGVT. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their price objective on Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday. Finally, BMO Capital Markets raised their price target on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ingevity currently has an average rating of “Hold” and an average price target of $58.00.

Ingevity Stock Down 2.4%

Shares of NYSE:NGVT opened at $52.73 on Friday. The stock’s 50-day moving average price is $55.44 and its two-hundred day moving average price is $45.51. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24. Ingevity Corporation has a 12-month low of $28.49 and a 12-month high of $60.77. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -8.86 and a beta of 1.40.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The firm had revenue of $336.00 million for the quarter. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%. On average, research analysts forecast that Ingevity Corporation will post 4.45 EPS 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.