Ingevity Co. (NYSE:NGVT) Shares Bought by Trillium Asset Management LLC

Trillium Asset Management LLC grew its holdings in shares of Ingevity Co. (NYSE:NGVT) by 51.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 114,925 shares of the company’s stock after buying an additional 38,896 shares during the quarter. Trillium Asset Management LLC’s holdings in Ingevity were worth $4,684,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after buying an additional 271 shares during the period. KBC Group NV boosted its holdings in shares of Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after acquiring an additional 530 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Ingevity during the fourth quarter valued at approximately $187,000. Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity during the fourth quarter worth approximately $239,000. Finally, XTX Topco Ltd acquired a new stake in Ingevity in the third quarter worth approximately $260,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $44.25 on Thursday. The stock’s fifty day simple moving average is $45.09 and its 200 day simple moving average is $42.25. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.74 and a beta of 1.53. 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 52-week low of $30.90 and a 52-week high of $56.30.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. The firm had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. As a group, sell-side analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGVT. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.17.

Ingevity 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.