UBS Group AG boosted its stake in shares of Ingevity Corporation (NYSE:NGVT – Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,394 shares of the company’s stock after acquiring an additional 19,471 shares during the quarter. UBS Group AG owned about 0.48% of Ingevity worth $10,261,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in NGVT. Oakworth Capital Inc. acquired a new stake in Ingevity during the 3rd quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its position in Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the period. Headlands Technologies LLC acquired a new stake in Ingevity during the 2nd quarter worth approximately $46,000. CIBC Private Wealth Group LLC acquired a new stake in Ingevity during the 3rd quarter worth approximately $62,000. Finally, EverSource Wealth Advisors LLC lifted its position in Ingevity by 51.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after acquiring an additional 550 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.
Ingevity Stock Performance
Shares of NGVT stock opened at $67.50 on Friday. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a fifty day moving average price of $71.36 and a 200 day moving average price of $64.75. The stock has a market cap of $2.35 billion, a PE ratio of -19.01 and a beta of 1.24. Ingevity Corporation has a 1 year low of $39.74 and a 1 year high of $79.29.
Analyst Ratings Changes
A number of research firms have weighed in on NGVT. BMO Capital Markets reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Ingevity in a research report on Monday, March 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Wells Fargo & Company increased their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wall Street Zen raised Ingevity from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ingevity has an average rating of “Hold” and a consensus price target of $80.00.
Check Out Our Latest Research Report on Ingevity
Ingevity Company Profile
Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.
The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.
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