Concurrent Investment Advisors LLC Invests $854,000 in Ingevity Corporation (NYSE:NGVT)

Concurrent Investment Advisors LLC bought a new position in Ingevity Corporation (NYSE:NGVT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,577 shares of the company's stock, valued at approximately $854,000. Concurrent Investment Advisors LLC owned 0.06% of Ingevity at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. acquired a new stake in Ingevity during the fourth quarter worth $17,515,000. American Century Companies Inc. boosted its stake in Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after buying an additional 398,800 shares in the last quarter. Vision One Management Partners LP boosted its stake in Ingevity by 265.0% during the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after buying an additional 298,157 shares in the last quarter. Royce & Associates LP boosted its stake in Ingevity by 22.4% during the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after buying an additional 208,921 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Ingevity by 23.6% during the fourth quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock valued at $37,825,000 after acquiring an additional 177,289 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Price Performance

Shares of NYSE NGVT traded down $0.77 during midday trading on Friday, reaching $47.45. 161,114 shares of the company traded hands, compared to its average volume of 276,412. The firm has a market cap of $1.73 billion, a PE ratio of -4.87 and a beta of 1.38. The stock's 50-day simple moving average is $42.75 and its 200-day simple moving average is $41.50. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $51.67. The company has a debt-to-equity ratio of 5.68, a quick ratio of 1.08 and a current ratio of 2.00.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. Ingevity had a positive return on equity of 63.76% and a negative net margin of 26.20%. The business had revenue of $284.00 million during the quarter, compared to analysts' expectations of $299.13 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm's revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NGVT. Wells Fargo & Company lifted their price objective on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Wall Street Zen raised Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $52.75.

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.