Ancora Advisors LLC Raises Stake in Ingevity Co. (NYSE:NGVT)

Ancora Advisors LLC lifted its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 799.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,230 shares of the company's stock after purchasing an additional 78,420 shares during the period. Ancora Advisors LLC owned about 0.24% of Ingevity worth $3,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Ingevity by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock worth $91,279,000 after buying an additional 115,581 shares in the last quarter. American Century Companies Inc. grew its holdings in Ingevity by 37.7% during 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 increased its position in Ingevity by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company's stock valued at $52,457,000 after purchasing an additional 101,866 shares during the period. Royce & Associates LP raised its holdings in shares of Ingevity by 22.4% in 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 in the last quarter. Finally, Southernsun Asset Management LLC lifted 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 worth $27,974,000 after purchasing an additional 13,171 shares during the period. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 5.2 %

Shares of NGVT stock opened at $35.00 on Friday. The stock's fifty day moving average price is $38.27 and its 200 day moving average price is $41.72. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $56.28. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -2.96 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. On average, research analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on NGVT shares. StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and boosted their price target for the stock 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 on the stock in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingevity presently has an average 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.

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