Wells Fargo & Company MN Grows Stake in Ingevity Co. (NYSE:NGVT)

Wells Fargo & Company MN grew its holdings in Ingevity Co. (NYSE:NGVT - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 37,055 shares of the company's stock after buying an additional 11,742 shares during the quarter. Wells Fargo & Company MN owned approximately 0.10% of Ingevity worth $1,510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV lifted its stake in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after purchasing an additional 433 shares during the period. Empowered Funds LLC purchased a new position in shares of Ingevity in the 4th quarter valued at approximately $187,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Ingevity in the 4th quarter valued at approximately $214,000. Teacher Retirement System of Texas purchased a new position in shares of Ingevity in the 4th quarter valued at approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Ingevity in the 4th quarter valued at approximately $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 0.0 %

Ingevity stock opened at $32.86 on Monday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -2.78 and a beta of 1.54. The stock has a fifty day simple moving average of $39.64 and a two-hundred day simple moving average of $41.81. Ingevity Co. has a 12 month low of $28.49 and a 12 month high of $56.30. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

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

Analysts Set New Price Targets

NGVT has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $52.20.

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.

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