Wellington Management Group LLP Has $91.28 Million Stake in Ingevity Co. (NYSE:NGVT)

Wellington Management Group LLP increased its position in Ingevity Co. (NYSE:NGVT - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,239,970 shares of the company's stock after purchasing an additional 115,581 shares during the quarter. Wellington Management Group LLP owned approximately 6.16% of Ingevity worth $91,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Ingevity by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 607,628 shares of the company's stock valued at $23,697,000 after acquiring an additional 50,692 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Ingevity by 26.1% during the third quarter. BNP Paribas Financial Markets now owns 21,528 shares of the company's stock worth $840,000 after buying an additional 4,459 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Ingevity during the 3rd quarter valued at $288,000. State Street Corp lifted its holdings in shares of Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company's stock valued at $60,331,000 after purchasing an additional 198,300 shares during the last quarter. Finally, Vision One Management Partners LP purchased a new position in Ingevity in the 3rd quarter worth $4,388,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NGVT. Wells Fargo & Company decreased their price target on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday. StockNews.com raised shares of Ingevity from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $53.83.

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Ingevity Trading Down 7.5 %

Shares of NGVT stock traded down $2.50 during trading hours on Thursday, reaching $30.91. 31,054 shares of the stock traded hands, compared to its average volume of 272,124. The firm has a market capitalization of $1.13 billion, a PE ratio of -2.62 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The business has a fifty day moving average price of $42.70 and a 200 day moving average price of $42.23. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $56.30.

Ingevity (NYSE:NGVT - Get Free Report) last issued 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 the consensus estimate of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. On average, equities research analysts forecast that Ingevity Co. will post 4.45 EPS 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.