PNC Financial Services Group Inc. Buys 765 Shares of Ingevity Co. (NYSE:NGVT)

PNC Financial Services Group Inc. raised its holdings in shares of Ingevity Co. (NYSE:NGVT) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 12,097 shares of the company’s stock after purchasing an additional 765 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ingevity were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its holdings in Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after acquiring an additional 198,300 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after acquiring an additional 297,135 shares during the period. Geode Capital Management LLC raised its holdings in Ingevity by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after acquiring an additional 33,973 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ingevity by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company’s stock valued at $26,335,000 after acquiring an additional 38,639 shares during the period. Finally, Harvey Partners LLC bought a new stake in Ingevity during the 3rd quarter valued at $7,878,000. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Ingevity has a consensus rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Stock Up 0.8 %

NGVT opened at $44.25 on Thursday. The company has a fifty day moving average price of $45.09 and a 200-day moving average price of $42.25. The firm has a market capitalization of $1.61 billion, a P/E ratio of -3.74 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a one year low of $30.90 and a one year high of $56.30.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Equities research analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

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.