American Century Companies Inc. Buys 398,800 Shares of Ingevity Co. (NYSE:NGVT)

American Century Companies Inc. lifted its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,457,365 shares of the company's stock after purchasing an additional 398,800 shares during the period. American Century Companies Inc. owned 4.01% of Ingevity worth $59,388,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NGVT. State Street Corp grew its position in shares of Ingevity by 14.7% in the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company's stock valued at $60,331,000 after acquiring an additional 198,300 shares during the period. Royce & Associates LP increased its holdings in shares of Ingevity by 22.4% in the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock valued at $46,561,000 after purchasing an additional 208,921 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock valued at $31,817,000 after purchasing an additional 33,973 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ingevity by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company's stock worth $26,335,000 after buying an additional 38,639 shares during the period. Finally, Harvey Partners LLC bought a new position in Ingevity in the 3rd quarter valued at about $7,878,000. Institutional investors and hedge funds own 91.59% of the company's stock.

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Ingevity Price Performance

NYSE:NGVT traded down $0.10 during trading hours on Friday, hitting $39.62. The company's stock had a trading volume of 273,717 shares, compared to its average volume of 267,334. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock has a fifty day simple moving average of $45.16 and a 200-day simple moving average of $42.54. The company has a market capitalization of $1.44 billion, a P/E ratio of -3.35 and a beta of 1.53.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. On average, analysts anticipate that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NGVT shares. StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.17.

About Ingevity

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.