Teacher Retirement System of Texas Makes New Investment in Ingevity Co. (NYSE:NGVT)

Teacher Retirement System of Texas purchased a new position in shares of Ingevity Co. (NYSE:NGVT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,812 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently made changes to their positions in NGVT. Trillium Asset Management LLC grew its stake in shares of Ingevity by 51.2% during the fourth quarter. Trillium Asset Management LLC now owns 114,925 shares of the company’s stock valued at $4,684,000 after buying an additional 38,896 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Ingevity by 38.2% during the 4th quarter. Intech Investment Management LLC now owns 13,143 shares of the company’s stock valued at $536,000 after acquiring an additional 3,632 shares during the period. Royce & Associates LP grew its position in Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after acquiring an additional 208,921 shares during the last quarter. Natixis Advisors LLC lifted its position in Ingevity by 13.0% in the fourth quarter. Natixis Advisors LLC now owns 31,534 shares of the company’s stock valued at $1,285,000 after purchasing an additional 3,626 shares during the last quarter. Finally, Swiss National Bank lifted its position in Ingevity by 6.1% in the fourth quarter. Swiss National Bank now owns 71,490 shares of the company’s stock valued at $2,913,000 after purchasing an additional 4,100 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

NYSE:NGVT opened at $38.79 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The firm’s fifty day simple moving average is $44.83 and its 200 day simple moving average is $42.63. The stock has a market cap of $1.41 billion, a P/E ratio of -3.28 and a beta of 1.53. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.30.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The business had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. As a group, research analysts predict that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

NGVT has been the topic of several recent analyst reports. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com cut shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ingevity currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

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.