Barclays PLC Boosts Stock Position in Ingevity Co. (NYSE:NGVT)

Barclays PLC grew its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 245.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,761 shares of the company's stock after acquiring an additional 47,429 shares during the period. Barclays PLC owned 0.18% of Ingevity worth $2,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in Ingevity by 7.6% in the second quarter. American Century Companies Inc. now owns 765,588 shares of the company's stock worth $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of Ingevity in the 2nd quarter valued at $748,000. ClariVest Asset Management LLC acquired a new position in shares of Ingevity during the 2nd quarter valued at $3,550,000. Jade Capital Advisors LLC bought a new position in Ingevity during the third quarter worth $1,170,000. Finally, Burney Co. boosted its stake in Ingevity by 8.2% during the second quarter. Burney Co. now owns 121,428 shares of the company's stock worth $5,308,000 after acquiring an additional 9,160 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ingevity Stock Up 0.8 %

NGVT stock traded up $0.32 during midday trading on Wednesday, reaching $41.46. 88,279 shares of the company's stock traded hands, compared to its average volume of 266,917. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The firm's fifty day moving average price is $43.26 and its 200-day moving average price is $41.20. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -2.67 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping the consensus estimate 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 negative net margin of 38.11% and a positive return on equity of 24.46%. The firm's revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, sell-side analysts forecast that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

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.