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

Concurrent Investment Advisors LLC purchased a new position in Ingevity Corporation (NYSE:NGVT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,577 shares of the company's stock, valued at approximately $854,000. Concurrent Investment Advisors LLC owned about 0.06% of Ingevity at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Ingevity by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company's stock valued at $26,335,000 after purchasing an additional 38,639 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Ingevity during the 4th quarter valued at $863,000. Arizona State Retirement System grew its holdings in shares of 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 purchasing an additional 611 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Ingevity during the 4th quarter valued at $3,018,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Ingevity by 6.8% during the 4th 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. Institutional investors own 91.59% of the company's stock.

Ingevity Trading Down 1.6%

Ingevity stock traded down $0.77 during trading hours on Friday, reaching $47.45. The stock had a trading volume of 161,114 shares, compared to its average volume of 276,115. The stock has a market cap of $1.73 billion, a PE ratio of -4.87 and a beta of 1.38. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $51.67. The company has a debt-to-equity ratio of 5.68, a current ratio of 2.00 and a quick ratio of 1.08. The company has a fifty day simple moving average of $42.75 and a 200-day simple moving average of $41.50.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly 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. Ingevity had a negative net margin of 26.20% and a positive return on equity of 63.76%. The business had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. During the same quarter last year, the firm earned $0.47 EPS. The company's revenue was down 16.5% on a year-over-year basis. Analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NGVT shares. Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Wells Fargo & Company raised their price target on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ingevity presently has a consensus rating of "Buy" and an average price target 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.