Maple Rock Capital Partners Inc. Buys New Shares in Ingevity Co. (NYSE:NGVT)

Maple Rock Capital Partners Inc. acquired a new stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 429,816 shares of the company's stock, valued at approximately $17,515,000. Ingevity makes up about 0.5% of Maple Rock Capital Partners Inc.'s holdings, making the stock its 26th largest position. Maple Rock Capital Partners Inc. owned 1.18% of Ingevity at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Ingevity by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock worth $91,279,000 after acquiring an additional 115,581 shares during the last quarter. American Century Companies Inc. raised its position in shares of Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after acquiring an additional 398,800 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Ingevity by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company's stock worth $52,457,000 after acquiring an additional 101,866 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock valued at $46,561,000 after purchasing an additional 208,921 shares during the last quarter. Finally, Southernsun Asset Management LLC raised its position in shares of Ingevity by 2.0% in the 4th quarter. Southernsun Asset Management LLC now owns 686,490 shares of the company's stock valued at $27,974,000 after purchasing an additional 13,171 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Up 1.0 %

Shares of NGVT stock traded up $0.36 during trading hours on Monday, reaching $35.40. The company had a trading volume of 482,344 shares, compared to its average volume of 274,126. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The stock's fifty day simple moving average is $38.27 and its 200 day simple moving average is $41.76. The company has a market capitalization of $1.29 billion, a P/E ratio of -2.99 and a beta of 1.31. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $56.28.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.74 by $0.25. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Ingevity's quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, sell-side analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on NGVT. StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.20.

About Ingevity

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.