Victory Capital Management Inc. Boosts Stake in Ingevity Co. (NYSE:NGVT)

Victory Capital Management Inc. raised its position in shares of Ingevity Co. (NYSE:NGVT) by 57.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,854,554 shares of the company’s stock after buying an additional 677,718 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Ingevity worth $87,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC grew its position in Ingevity by 1.3% in the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock worth $925,000 after acquiring an additional 249 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Ingevity by 2.5% in the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after purchasing an additional 250 shares during the period. Savant Capital LLC increased its position in shares of Ingevity by 0.4% during the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock valued at $3,982,000 after purchasing an additional 342 shares during the last quarter. Raymond James & Associates raised its holdings in Ingevity by 1.1% during the 3rd quarter. Raymond James & Associates now owns 46,519 shares of the company’s stock valued at $2,215,000 after buying an additional 516 shares during the period. Finally, Pathstone Family Office LLC raised its holdings in Ingevity by 22.1% during the 3rd quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after buying an additional 803 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

Ingevity stock opened at $53.56 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.96. The firm has a 50-day moving average of $46.99 and a two-hundred day moving average of $44.16. Ingevity Co. has a 1 year low of $36.66 and a 1 year high of $68.11.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The firm had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was down 13.4% on a year-over-year basis. Equities analysts anticipate that Ingevity Co. will post 3.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NGVT. Wells Fargo & Company boosted their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Oppenheimer increased their price objective on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.50.

Ingevity Company 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.