Ingevity Co. (NYSE:NGVT) Shares Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC boosted its position in shares of Ingevity Co. (NYSE:NGVT) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 50,106 shares of the company’s stock after acquiring an additional 1,501 shares during the quarter. Boothbay Fund Management LLC’s holdings in Ingevity were worth $2,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGVT. KBC Group NV lifted its position in Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after acquiring an additional 433 shares during the period. Empowered Funds LLC acquired a new stake in Ingevity during the 4th quarter worth about $187,000. O Shaughnessy Asset Management LLC acquired a new stake in Ingevity during the 4th quarter worth about $214,000. Teacher Retirement System of Texas acquired a new stake in Ingevity during the 4th quarter worth about $237,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Ingevity during the 4th quarter worth about $239,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of Ingevity stock opened at $32.86 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $56.30. The business has a 50-day moving average price of $39.64 and a 200 day moving average price of $41.81. The firm has a market cap of $1.20 billion, a PE ratio of -2.78 and a beta of 1.54.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results 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 firm had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Sell-side analysts predict that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NGVT. Wells Fargo & Company lowered their price target on Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Finally, BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.20.

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.