JPMorgan Chase & Co. Purchases 68,675 Shares of Ingevity Co. (NYSE:NGVT)

JPMorgan Chase & Co. raised its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 58.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,256 shares of the company's stock after purchasing an additional 68,675 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.51% of Ingevity worth $7,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGVT. State Street Corp increased its stake in shares of Ingevity by 14.7% during the third quarter. State Street Corp now owns 1,546,957 shares of the company's stock worth $60,331,000 after purchasing an additional 198,300 shares during the period. American Century Companies Inc. grew its holdings in Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock valued at $59,388,000 after buying an additional 398,800 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Ingevity by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company's stock worth $52,457,000 after buying an additional 101,866 shares during the period. Royce & Associates LP lifted its holdings 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 buying an additional 208,921 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake 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 acquiring an additional 33,973 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Price Performance

Shares of NYSE NGVT traded up $0.59 during trading hours on Tuesday, hitting $31.70. 218,740 shares of the stock were exchanged, compared to its average volume of 275,161. The company's fifty day simple moving average is $40.40 and its two-hundred day simple moving average is $41.80. The company has a market cap of $1.16 billion, a PE ratio of -2.68 and a beta of 1.54. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $56.30.

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, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. On average, sell-side analysts predict that Ingevity Co. will post 4.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on NGVT. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.83.

Ingevity 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.