Pictet Asset Management Holding SA Boosts Holdings in Ingevity Co. (NYSE:NGVT)

Pictet Asset Management Holding SA grew its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,698 shares of the company's stock after buying an additional 32,966 shares during the period. Pictet Asset Management Holding SA owned 0.79% of Ingevity worth $11,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NGVT. American Century Companies Inc. increased its position in Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after buying an additional 398,800 shares during the period. Royce & Associates LP grew its position in shares of Ingevity by 22.4% during the fourth 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 last quarter. State Street Corp raised its position in 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 purchasing an additional 198,300 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Ingevity during the 4th quarter worth $4,882,000. Finally, Vision One Management Partners LP purchased a new position in Ingevity during the 3rd quarter worth $4,388,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Trading Up 0.3 %

NYSE:NGVT traded up $0.10 on Monday, reaching $31.53. The stock had a trading volume of 554,020 shares, compared to its average volume of 270,474. Ingevity Co. has a 12-month low of $29.01 and a 12-month high of $56.30. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -2.66 and a beta of 1.54. The firm's fifty day moving average is $43.82 and its two-hundred day moving average is $42.49. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

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

Wall Street Analyst Weigh In

NGVT has been the subject of a number of research reports. StockNews.com raised shares of Ingevity from a "hold" rating to a "buy" rating in a report on Friday. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.