CenterBook Partners LP Acquires 10,941 Shares of Ingevity Co. (NYSE:NGVT)

CenterBook Partners LP grew its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,693 shares of the company's stock after purchasing an additional 10,941 shares during the period. CenterBook Partners LP owned about 0.22% of Ingevity worth $3,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock valued at $59,388,000 after purchasing an additional 398,800 shares in the last quarter. Royce & Associates LP grew its holdings in Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after acquiring an additional 208,921 shares during the period. State Street Corp raised its position in shares of Ingevity by 14.7% during 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 last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Ingevity in the 4th quarter valued at $4,882,000. Finally, Wellington Management Group LLP boosted its position in shares of Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock worth $91,279,000 after purchasing an additional 115,581 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

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Ingevity Stock Performance

NYSE NGVT traded up $0.20 during trading on Tuesday, reaching $31.94. The company's stock had a trading volume of 77,272 shares, compared to its average volume of 273,142. Ingevity Co. has a 12 month low of $28.49 and a 12 month high of $56.30. The firm has a 50 day moving average price of $41.94 and a 200 day moving average price of $42.07. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.70 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.66. The business had revenue of $298.80 million for the quarter, compared to the consensus estimate 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, equities analysts anticipate that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on NGVT. StockNews.com lowered shares of Ingevity from a "buy" rating to a "hold" rating in a report on Saturday. 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 note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.83.

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.