Harvey Partners LLC Takes Position in Ingevity Co. (NYSE:NGVT)

Harvey Partners LLC bought a new stake in Ingevity Co. (NYSE:NGVT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 202,000 shares of the company's stock, valued at approximately $7,878,000. Harvey Partners LLC owned approximately 0.56% of Ingevity as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NGVT. Edgestream Partners L.P. acquired a new position in Ingevity in the 3rd quarter valued at $288,000. Public Sector Pension Investment Board lifted its holdings in shares of Ingevity by 3.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 77,105 shares of the company's stock worth $3,007,000 after acquiring an additional 2,800 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Ingevity by 26.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,528 shares of the company's stock worth $840,000 after acquiring an additional 4,459 shares during the period. Advantage Alpha Capital Partners LP lifted its holdings in Ingevity by 20.1% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 53,609 shares of the company's stock valued at $2,091,000 after purchasing an additional 8,956 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ingevity during the 3rd quarter worth approximately $918,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Stock Down 1.9 %

NYSE NGVT traded down $0.93 during trading hours on Tuesday, reaching $48.78. The company's stock had a trading volume of 166,317 shares, compared to its average volume of 266,569. The firm has a fifty day simple moving average of $40.65 and a 200-day simple moving average of $41.66. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

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

Analyst Ratings Changes

A number of brokerages have recently commented on NGVT. BMO Capital Markets boosted their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. CJS Securities upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Ingevity has a consensus rating of "Moderate Buy" and an average target price 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.