40,000 Shares in Ingevity Co. (NYSE:NGVT) Bought by Walnut Level Capital LLC

Walnut Level Capital LLC acquired a new stake in Ingevity Co. (NYSE:NGVT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $1,630,000. Ingevity accounts for about 0.6% of Walnut Level Capital LLC's investment portfolio, making the stock its 25th biggest position. Walnut Level Capital LLC owned approximately 0.11% of Ingevity as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock valued at $34,000 after buying an additional 271 shares during the last quarter. KBC Group NV grew its holdings in Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company's stock worth $61,000 after purchasing an additional 530 shares during the period. Empowered Funds LLC bought a new stake in Ingevity in the fourth quarter valued at $187,000. Teacher Retirement System of Texas bought a new stake in Ingevity in the fourth quarter valued at $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Ingevity during the 4th quarter worth about $239,000. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NGVT shares. StockNews.com lowered shares of Ingevity from a "buy" rating to a "hold" rating in a report on Monday. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.17.

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Ingevity Stock Performance

Shares of Ingevity stock traded down $0.26 during trading hours on Friday, reaching $39.47. The company had a trading volume of 41,675 shares, compared to its average volume of 255,265. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a one year low of $30.90 and a one year high of $56.30. The firm has a market cap of $1.43 billion, a PE ratio of -3.33 and a beta of 1.53. The business has a fifty day simple moving average of $45.31 and a 200 day simple moving average of $42.43.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.66. The company had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, analysts anticipate that Ingevity Co. will post 4.45 earnings per share 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.