State Street Corp Grows Stake in Ingevity Co. (NYSE:NGVT)

State Street Corp lifted its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 14.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,546,957 shares of the company's stock after acquiring an additional 198,300 shares during the quarter. State Street Corp owned approximately 4.26% of Ingevity worth $60,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in Ingevity by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company's stock worth $53,939,000 after purchasing an additional 23,497 shares during the period. Segall Bryant & Hamill LLC lifted its position in Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock valued at $46,231,000 after acquiring an additional 297,135 shares during the period. Victory Capital Management Inc. boosted its stake in Ingevity by 1.4% during the second quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company's stock worth $44,964,000 after acquiring an additional 13,771 shares in the last quarter. Royce & Associates LP grew its holdings in Ingevity by 23.3% in the third quarter. Royce & Associates LP now owns 933,677 shares of the company's stock worth $36,413,000 after purchasing an additional 176,447 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Ingevity by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company's stock worth $36,977,000 after purchasing an additional 88,026 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lifted their target price 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 given a buy rating to the stock. According to MarketBeat.com, Ingevity currently has an average rating of "Moderate Buy" and a consensus target price of $52.17.

Ingevity Stock Down 2.1 %

NYSE:NGVT traded down $0.86 on Thursday, reaching $40.75. 228,174 shares of the stock traded hands, compared to its average volume of 264,938. The company's fifty day simple moving average is $42.71 and its 200 day simple moving average is $41.45. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -2.62 and a beta of 1.62. Ingevity Co. has a 12 month low of $30.90 and a 12 month 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.

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

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.