Jade Capital Advisors LLC Makes New $1.17 Million Investment in Ingevity Co. (NYSE:NGVT)

Jade Capital Advisors LLC acquired a new position in shares of Ingevity Co. (NYSE:NGVT - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,000 shares of the company's stock, valued at approximately $1,170,000. Jade Capital Advisors LLC owned approximately 0.08% of Ingevity at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock valued at $26,000 after buying an additional 526 shares during the last quarter. Blue Trust Inc. lifted its position in Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company's stock worth $43,000 after acquiring an additional 452 shares during the period. Headlands Technologies LLC acquired a new stake in Ingevity during the 2nd quarter worth approximately $46,000. nVerses Capital LLC acquired a new stake in Ingevity during the 3rd quarter worth approximately $113,000. Finally, Everence Capital Management Inc. acquired a new stake in Ingevity during the 2nd quarter worth approximately $180,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

NGVT has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective 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 decreased 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. Wells Fargo & Company decreased 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. Finally, CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.00.

Ingevity Price Performance

NYSE NGVT traded down $1.49 during mid-day trading on Tuesday, hitting $32.31. The stock had a trading volume of 208,250 shares, compared to its average volume of 254,599. 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 $1.17 billion, a price-to-earnings ratio of -10.87 and a beta of 1.62. The company has a 50 day simple moving average of $36.91 and a 200 day simple moving average of $43.00. 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 (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm had revenue of $390.60 million during the quarter, compared to analysts' expectations of $407.58 million. During the same period in the previous year, the business earned $1.41 earnings per share. The business's revenue for the quarter was down 18.9% on a year-over-year basis. Equities analysts forecast that Ingevity Co. will post 2.63 EPS 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.