Ancora Advisors LLC Acquires 78,420 Shares of Ingevity Co. (NYSE:NGVT)

Ancora Advisors LLC lifted its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 799.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,230 shares of the company's stock after purchasing an additional 78,420 shares during the quarter. Ancora Advisors LLC owned 0.24% of Ingevity worth $3,595,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KBC Group NV boosted its position in shares of Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after buying an additional 433 shares during the last quarter. Arizona State Retirement System lifted its stake in Ingevity by 6.1% during the 4th quarter. Arizona State Retirement System now owns 10,550 shares of the company's stock valued at $430,000 after acquiring an additional 611 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in Ingevity by 9.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company's stock worth $307,000 after acquiring an additional 628 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its stake in shares of Ingevity by 4.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company's stock worth $658,000 after acquiring an additional 750 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Ingevity by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company's stock valued at $493,000 after purchasing an additional 765 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NGVT shares. StockNews.com cut shares of Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Wells Fargo & Company upped their target price on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.75.

Ingevity Stock Performance

NGVT traded up $0.45 during midday trading on Friday, reaching $40.74. The company had a trading volume of 108,755 shares, compared to its average volume of 277,094. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $56.28. The business has a 50-day moving average price of $37.67 and a two-hundred day moving average price of $41.73. The stock has a market cap of $1.48 billion, a PE ratio of -3.44 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. 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%. The business had revenue of $284.00 million for the quarter, compared to the consensus estimate of $299.13 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Ingevity's revenue for the quarter was down 16.5% on a year-over-year basis. On average, sell-side analysts expect 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.