7,403 Shares in Ingevity Co. (NYSE:NGVT) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in Ingevity Co. (NYSE:NGVT) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 7,403 shares of the company’s stock, valued at approximately $302,000.

Other large investors also recently added to or reduced their stakes in the company. Maple Rock Capital Partners Inc. bought a new stake in Ingevity in the 4th quarter worth $17,515,000. American Century Companies Inc. grew its holdings in Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after acquiring an additional 398,800 shares during the last quarter. Royce & Associates LP grew its holdings in 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. KLP Kapitalforvaltning AS bought a new stake in Ingevity in the 4th quarter worth $4,882,000. Finally, Wellington Management Group LLP grew its holdings in Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after acquiring an additional 115,581 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Up 0.4%

Shares of NGVT opened at $43.07 on Friday. The firm’s 50-day moving average price is $37.18 and its 200-day moving average price is $42.16. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.64 and a beta of 1.31. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $53.41.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

NGVT has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Ingevity from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price 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, April 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.75.

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.