Royce & Associates LP Acquires 176,447 Shares of Ingevity Co. (NYSE:NGVT)

Royce & Associates LP lifted its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 23.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 933,677 shares of the company's stock after buying an additional 176,447 shares during the period. Royce & Associates LP owned about 2.57% of Ingevity worth $36,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. grew its stake in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock valued at $26,000 after purchasing an additional 526 shares during the period. Isthmus Partners LLC bought a new position in shares of Ingevity during the 2nd quarter worth $35,000. Blue Trust Inc. boosted its holdings in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company's stock worth $43,000 after buying an additional 452 shares during the period. Headlands Technologies LLC bought a new stake in Ingevity during the 2nd quarter valued at $46,000. Finally, KBC Group NV lifted its position in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company's stock worth $61,000 after acquiring an additional 530 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Trading Up 1.7 %

Shares of NYSE NGVT traded up $0.79 during midday trading on Friday, reaching $45.97. The company had a trading volume of 217,202 shares, compared to its average volume of 268,486. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The firm's fifty day moving average price is $37.96 and its 200-day moving average price is $42.31. The stock has a market cap of $1.67 billion, a PE ratio of -2.91 and a beta of 1.60.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping 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 company had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. During the same period in the prior year, the business posted $1.21 earnings per share. Ingevity's revenue for the quarter was down 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Ingevity Co. will post 2.55 earnings per share for the current year.

Analyst Ratings Changes

NGVT has been the topic of a number of recent research reports. BMO Capital Markets increased their price objective on Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Wells Fargo & Company decreased 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 Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research note on Wednesday, August 7th. Finally, Oppenheimer decreased their target price on Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ingevity presently has an average rating of "Moderate Buy" and a consensus target price of $52.17.

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.