Free Trial

Millennium Management LLC Raises Holdings in Ingevity Co. (NYSE:NGVT)

Ingevity logo with Basic Materials background

Millennium Management LLC boosted its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 46.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 504,552 shares of the company's stock after buying an additional 161,014 shares during the quarter. Millennium Management LLC owned approximately 1.39% of Ingevity worth $22,054,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Ingevity during the 2nd quarter worth approximately $11,416,000. Vanguard Group Inc. grew its holdings in Ingevity by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company's stock valued at $176,760,000 after buying an additional 153,530 shares in the last quarter. Burney Co. increased its stake in shares of Ingevity by 2,449.8% in the 1st quarter. Burney Co. now owns 112,268 shares of the company's stock worth $5,355,000 after acquiring an additional 107,865 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ingevity by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company's stock worth $36,977,000 after acquiring an additional 88,026 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of Ingevity during the 2nd quarter valued at about $3,550,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Trading Up 12.0 %

NYSE NGVT traded up $3.98 during trading on Friday, hitting $37.04. The stock had a trading volume of 899,341 shares, compared to its average volume of 256,238. The firm has a 50 day moving average price of $37.95 and a 200 day moving average price of $43.99. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The company has a market capitalization of $1.35 billion, a PE ratio of -11.91 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same quarter last year, the company earned $1.41 earnings per share. Ingevity's quarterly revenue was down 18.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ingevity Co. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on NGVT. CJS Securities raised shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their price target on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, August 5th. Oppenheimer lowered their price objective on Ingevity from $58.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Finally, BMO Capital Markets reduced their target price on Ingevity from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $51.00.

Check Out Our Latest Stock Report on Ingevity

Ingevity Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

Should you invest $1,000 in Ingevity right now?

Before you consider Ingevity, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ingevity wasn't on the list.

While Ingevity currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 High-Yield Dividend Stocks that Could Ruin Your Retirement Cover

Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Meta Platforms Tops Most Upgraded Stocks List—Here’s What to Expect
Alphabet Gaining Momentum: Can It Reach $200 by December?
Build-to-Order: The Strategy Fueling Toll Brothers’ Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines