GAMMA Investing LLC Has $17.82 Million Stake in Ingevity Co. (NYSE:NGVT)

GAMMA Investing LLC increased its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 8,573.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,014 shares of the company's stock after purchasing an additional 44,495 shares during the quarter. GAMMA Investing LLC owned about 0.12% of Ingevity worth $17,820,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. First Hawaiian Bank lifted its holdings in Ingevity by 19.6% in the 1st quarter. First Hawaiian Bank now owns 12,832 shares of the company's stock valued at $508,000 after acquiring an additional 2,102 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock valued at $91,279,000 after acquiring an additional 115,581 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Ingevity by 3.7% in the 4th quarter. California State Teachers Retirement System now owns 33,993 shares of the company's stock valued at $1,385,000 after acquiring an additional 1,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ingevity by 28.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock worth $313,000 after buying an additional 1,717 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ingevity during the 4th quarter worth about $1,423,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Ingevity has a consensus rating of "Buy" and an average target price of $52.75.

Ingevity Trading Up 2.1%

NYSE NGVT traded up $0.86 on Friday, hitting $42.00. 187,351 shares of the company were exchanged, compared to its average volume of 278,306. The company's 50 day moving average price is $36.98 and its 200-day moving average price is $41.82. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The firm has a market capitalization of $1.53 billion, a P/E ratio of -3.55 and a beta of 1.39. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $51.67.

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

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.