Vestcor Inc Invests $796,000 in Ingevity Co. (NYSE:NGVT)

Vestcor Inc acquired a new position in shares of Ingevity Co. (NYSE:NGVT - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,413 shares of the company's stock, valued at approximately $796,000. Vestcor Inc owned 0.06% of Ingevity as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Amalgamated Bank boosted its position in Ingevity by 2.4% in the third quarter. Amalgamated Bank now owns 10,667 shares of the company's stock valued at $416,000 after buying an additional 246 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock worth $34,000 after acquiring an additional 271 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Ingevity by 3.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company's stock worth $326,000 after acquiring an additional 279 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Ingevity by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company's stock valued at $743,000 after purchasing an additional 300 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Ingevity by 1.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company's stock valued at $1,004,000 after purchasing an additional 313 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Price Performance

Shares of Ingevity stock traded down $1.22 during midday trading on Friday, reaching $45.83. The company had a trading volume of 185,023 shares, compared to its average volume of 265,293. The stock has a fifty day simple moving average of $42.21 and a 200 day simple moving average of $41.60. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -2.95 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.50. The company had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm's quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, equities research analysts forecast that Ingevity Co. will post 2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets increased their target price on Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.17.

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.