Balyasny Asset Management L.P. Makes New $302,000 Investment in Ingevity Co. (NYSE:NGVT)

Balyasny Asset Management L.P. acquired a new position in shares of Ingevity Co. (NYSE:NGVT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,403 shares of the company's stock, valued at approximately $302,000.

Other large investors have also modified their holdings of the company. KBC Group NV boosted its holdings in Ingevity by 27.5% in the 4th 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 period. Empowered Funds LLC bought a new stake in Ingevity in the 4th quarter valued at $187,000. O Shaughnessy Asset Management LLC bought a new stake in Ingevity in the 4th quarter valued at $214,000. Teacher Retirement System of Texas bought a new stake in Ingevity in the 4th quarter valued at $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity in the 4th quarter valued at $239,000. 91.59% of the stock is owned by institutional investors.

Ingevity Price Performance

Shares of Ingevity stock traded down $0.27 during mid-day trading on Friday, reaching $41.04. 246,617 shares of the stock were exchanged, compared to its average volume of 280,271. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -3.47 and a beta of 1.31. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The firm has a 50-day simple moving average of $36.94 and a 200 day simple moving average of $42.14. Ingevity Co. has a fifty-two week low of $28.49 and a fifty-two week high of $51.67.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The business 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%. The firm's revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. On average, sell-side analysts predict that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Ingevity 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.