Maple Rock Capital Partners Inc. Buys Shares of 429,816 Ingevity Co. (NYSE:NGVT)

Maple Rock Capital Partners Inc. bought a new stake in Ingevity Co. (NYSE:NGVT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 429,816 shares of the company's stock, valued at approximately $17,515,000. Ingevity makes up approximately 0.5% of Maple Rock Capital Partners Inc.'s portfolio, making the stock its 26th biggest holding. Maple Rock Capital Partners Inc. owned 1.18% of Ingevity at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in Ingevity by 27.5% in the fourth 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 last quarter. Empowered Funds LLC purchased a new stake in Ingevity in the fourth quarter valued at $187,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Ingevity during the fourth quarter worth about $214,000. Teacher Retirement System of Texas acquired a new stake in shares of Ingevity during the fourth quarter worth about $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Ingevity in the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Price Performance

Shares of NYSE NGVT traded down $0.72 during midday trading on Wednesday, hitting $38.48. The company had a trading volume of 165,578 shares, compared to its average volume of 275,465. 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 50-day simple moving average of $37.83 and a two-hundred day simple moving average of $41.75. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $56.28. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.25 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The business had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company's revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities research analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Finally, StockNews.com cut shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.40.

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.