Vanguard Group Inc. Has $169.70 Million Position in Ingevity Co. (NYSE:NGVT)

Vanguard Group Inc. cut its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,164,419 shares of the company's stock after selling 46,092 shares during the quarter. Vanguard Group Inc. owned 11.46% of Ingevity worth $169,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGVT. Vestcor Inc acquired a new stake in shares of Ingevity during the 3rd quarter worth approximately $796,000. Geode Capital Management LLC boosted its stake in Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock worth $31,817,000 after buying an additional 33,973 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock worth $4,586,000 after buying an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity in the 4th quarter valued at $239,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Ingevity in the 4th quarter valued at $863,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

Ingevity stock traded up $0.65 during trading hours on Friday, hitting $31.92. 213,517 shares of the stock were exchanged, compared to its average volume of 273,638. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.70 and a beta of 1.54. The business's 50-day moving average is $42.19 and its two-hundred day moving average is $42.11. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity Co. has a 12 month low of $28.49 and a 12 month high of $56.30.

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Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. The firm had revenue of $298.80 million during the quarter, compared to analysts' expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Equities research analysts expect that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

NGVT has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday. StockNews.com raised Ingevity from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Ingevity currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.83.

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.