Mitsubishi UFJ Asset Management UK Ltd. Makes New $530,000 Investment in Ingevity Co. (NYSE:NGVT)

Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Ingevity Co. (NYSE:NGVTFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,000 shares of the company’s stock, valued at approximately $530,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its holdings in Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after buying an additional 271 shares in the last quarter. KBC Group NV raised its holdings in Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Blue Trust Inc. raised its holdings in Ingevity by 179.6% during the third quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after purchasing an additional 1,609 shares during the last quarter. nVerses Capital LLC acquired a new stake in Ingevity in the third quarter valued at $113,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Ingevity by 27.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock valued at $151,000 after buying an additional 831 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets increased their price objective on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.17.

Read Our Latest Research Report on Ingevity

Ingevity Trading Up 1.1 %

Ingevity stock opened at $47.73 on Wednesday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The stock has a market cap of $1.73 billion, a PE ratio of -3.07 and a beta of 1.65. The stock has a 50-day moving average price of $44.08 and a 200 day moving average price of $40.77. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52.

Ingevity (NYSE:NGVTGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.50. The business had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Equities research analysts predict that Ingevity Co. will post 2.75 earnings per share for the current fiscal year.

About Ingevity

(Free Report)

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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