SG Americas Securities LLC Makes New Investment in Ingevity Co. (NYSE:NGVT)

SG Americas Securities LLC purchased a new stake in Ingevity Co. (NYSE:NGVT - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,832 shares of the company's stock, valued at approximately $734,000. SG Americas Securities LLC owned about 0.05% of Ingevity at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ingevity by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company's stock worth $182,143,000 after buying an additional 75,198 shares during the period. Wellington Management Group LLP raised its holdings in Ingevity by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company's stock worth $101,446,000 after buying an additional 80,856 shares during the period. Thrivent Financial for Lutherans raised its holdings in Ingevity by 2.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,359,556 shares of the company's stock worth $59,427,000 after buying an additional 35,620 shares during the period. Victory Capital Management Inc. raised its holdings in Ingevity by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company's stock worth $44,964,000 after buying an additional 13,771 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in 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 buying an additional 88,026 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NGVT. CJS Securities upgraded Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. BMO Capital Markets decreased their target price on Ingevity from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, September 30th. Oppenheimer reduced 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, Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ingevity presently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Ingevity Price Performance

Ingevity stock traded up $0.34 during mid-day trading on Monday, hitting $34.57. 148,582 shares of the company were exchanged, compared to its average volume of 255,520. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. The business has a fifty day moving average of $36.97 and a 200 day moving average of $43.52. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a market capitalization of $1.26 billion, a PE ratio of -11.05 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. The business's revenue was down 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that Ingevity Co. will post 2.63 earnings per share for the current 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.