21,190 Shares in Ingevity Co. (NYSE:NGVT) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Ingevity Co. (NYSE:NGVT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,190 shares of the company's stock, valued at approximately $863,000. Proficio Capital Partners LLC owned about 0.06% of Ingevity at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in Ingevity by 7.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 27,770 shares of the company's stock worth $1,132,000 after acquiring an additional 2,031 shares during the last quarter. Leeward Investments LLC MA raised its stake in Ingevity by 8.0% in the 4th quarter. Leeward Investments LLC MA now owns 189,347 shares of the company's stock worth $7,716,000 after acquiring an additional 13,984 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its stake in Ingevity by 4.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company's stock worth $658,000 after acquiring an additional 750 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Ingevity by 18.3% in the 4th quarter. Handelsbanken Fonder AB now owns 9,037 shares of the company's stock worth $368,000 after acquiring an additional 1,400 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Ingevity by 3.0% in the 4th quarter. New York State Common Retirement Fund now owns 164,666 shares of the company's stock worth $6,710,000 after acquiring an additional 4,840 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

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Ingevity Stock Performance

NGVT traded up $0.72 during midday trading on Friday, hitting $47.35. 358,636 shares of the company were exchanged, compared to its average volume of 235,171. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -4.00 and a beta of 1.53. The company's 50 day simple moving average is $44.33 and its 200 day simple moving average is $41.92.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $298.80 million for the quarter, compared to analysts' expectations of $297.40 million. As a group, sell-side analysts predict that Ingevity Co. will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NGVT. StockNews.com upgraded Ingevity from a "hold" rating to a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.17.

Ingevity Company 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.