Russell Investments Group Ltd. Purchases 6,246 Shares of Ingevity Co. (NYSE:NGVT)

Russell Investments Group Ltd. increased its position in Ingevity Co. (NYSE:NGVT) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,451 shares of the company’s stock after purchasing an additional 6,246 shares during the period. Russell Investments Group Ltd.’s holdings in Ingevity were worth $6,620,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its holdings in Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after buying an additional 398,800 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Ingevity by 22.4% in 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. State Street Corp lifted its position in Ingevity by 14.7% in 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Ingevity during the 4th quarter valued at about $4,882,000. Finally, Wellington Management Group LLP increased its holdings in Ingevity by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after purchasing an additional 115,581 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Up 2.1 %

Shares of Ingevity stock opened at $31.92 on Monday. The firm has a market cap of $1.16 billion, a PE ratio of -2.70 and a beta of 1.54. Ingevity Co. has a 1 year low of $28.49 and a 1 year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock has a fifty day moving average price of $42.19 and a 200-day moving average price of $42.13.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Ingevity from $45.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Finally, StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.83.

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.