Strs Ohio Takes $878,000 Position in Ingevity Corporation $NGVT

Strs Ohio bought a new stake in Ingevity Corporation (NYSE:NGVT) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 15,900 shares of the company’s stock, valued at approximately $878,000.

Several other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ingevity during the second quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC bought a new position in shares of Ingevity in the second quarter worth approximately $60,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingevity by 51.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after purchasing an additional 550 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Ingevity in the second quarter worth $145,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NGVT shares. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. BMO Capital Markets increased their target price on shares of Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. Wells Fargo & Company set a $65.00 price target on Ingevity in a research report on Wednesday. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ingevity currently has an average rating of “Hold” and an average price target of $67.50.

Ingevity Price Performance

Shares of NGVT stock opened at $66.21 on Thursday. The business’s fifty day moving average is $59.56 and its 200 day moving average is $55.26. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 8.39. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -36.38 and a beta of 1.36. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $69.80.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.38. The company had revenue of $333.10 million during the quarter, compared to analyst estimates of $360.43 million. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. Ingevity’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS. Research analysts expect that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.