Mackenzie Financial Corp Makes New Investment in Ingevity Co. (NYSE:NGVT)

Mackenzie Financial Corp purchased a new stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,792 shares of the company's stock, valued at approximately $644,000.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG increased its stake in shares of Ingevity by 53.3% during the fourth quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock valued at $1,383,000 after buying an additional 11,801 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Ingevity during the fourth quarter valued at $863,000. Raymond James Financial Inc. purchased a new position in shares of Ingevity during the fourth quarter valued at $3,018,000. Barclays PLC increased its stake in shares of Ingevity by 245.3% during the third quarter. Barclays PLC now owns 66,761 shares of the company's stock valued at $2,603,000 after buying an additional 47,429 shares during the period. Finally, Amundi increased its stake in shares of Ingevity by 193.2% during the fourth quarter. Amundi now owns 19,876 shares of the company's stock valued at $750,000 after buying an additional 13,097 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 2.1%

NYSE:NGVT traded up $0.86 during midday trading on Friday, reaching $42.00. 187,351 shares of the stock traded hands, compared to its average volume of 278,616. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $51.67. The business has a 50-day moving average of $36.98 and a two-hundred day moving average of $41.85. 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 has a market capitalization of $1.53 billion, a PE ratio of -3.55 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NGVT shares. Wall Street Zen lowered Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their target price on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ingevity has an average rating of "Moderate Buy" and a consensus target price of $52.75.

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.