Patten & Patten Inc. TN Purchases 31,959 Shares of Ingevity Co. (NYSE:NGVT)

Patten & Patten Inc. TN lifted its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,015 shares of the company's stock after buying an additional 31,959 shares during the period. Patten & Patten Inc. TN owned about 0.58% of Ingevity worth $8,269,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NGVT. First Horizon Advisors Inc. boosted its stake in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock worth $26,000 after buying an additional 526 shares during the last quarter. Isthmus Partners LLC bought a new stake in shares of Ingevity in the 2nd quarter valued at about $35,000. Blue Trust Inc. raised its holdings in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company's stock valued at $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC bought a new stake in shares of Ingevity in the 2nd quarter valued at about $46,000. Finally, nVerses Capital LLC bought a new stake in shares of Ingevity in the 3rd quarter valued at about $113,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NGVT shares. Wells Fargo & Company lowered their price target on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, August 5th. CJS Securities raised shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Oppenheimer lowered their price target on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Finally, BMO Capital Markets increased their price target 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.17.

Ingevity Price Performance

Ingevity stock traded up $1.79 during mid-day trading on Monday, reaching $47.03. The company had a trading volume of 129,177 shares, compared to its average volume of 268,834. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company has a market cap of $1.71 billion, a P/E ratio of -2.91 and a beta of 1.60. The business has a fifty day simple moving average of $37.48 and a 200 day simple moving average of $42.31.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same quarter last year, the business posted $1.21 earnings per share. The company's quarterly revenue was down 15.5% on a year-over-year basis. On average, equities research analysts predict that Ingevity Co. will post 2.55 earnings per share for the current year.

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.