Vision One Management Partners LP Takes Position in Ingevity Co. (NYSE:NGVT)

Vision One Management Partners LP acquired a new stake in Ingevity Co. (NYSE:NGVT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,521 shares of the company's stock, valued at approximately $4,388,000. Ingevity accounts for about 3.0% of Vision One Management Partners LP's investment portfolio, making the stock its 7th biggest position. Vision One Management Partners LP owned about 0.31% of Ingevity at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Ingevity by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,218 shares of the company's stock worth $1,490,000 after buying an additional 4,820 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Ingevity by 3.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company's stock worth $326,000 after acquiring an additional 279 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Ingevity by 4.4% in the second quarter. Wedge Capital Management L L P NC now owns 143,493 shares of the company's stock valued at $6,272,000 after purchasing an additional 6,009 shares during the period. Blue Trust Inc. lifted its stake 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 last quarter. Finally, First Horizon Advisors Inc. grew its holdings 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 purchasing an additional 526 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets upped their target price on shares of Ingevity from $40.00 to $47.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.17.

Ingevity Price Performance

Ingevity stock traded up $1.09 during midday trading on Friday, reaching $47.11. 237,525 shares of the stock traded hands, compared to its average volume of 238,382. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a 50-day simple moving average of $41.24 and a two-hundred day simple moving average of $41.67. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $376.95 million. During the same quarter in the previous year, the business posted $1.21 earnings per share. The business's quarterly revenue was down 15.5% compared to the same quarter last year. Analysts expect 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.