Gotham Asset Management LLC Grows Holdings in Ingevity Co. (NYSE:NGVT)

Gotham Asset Management LLC increased its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 133.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,369 shares of the company's stock after acquiring an additional 16,765 shares during the period. Gotham Asset Management LLC owned approximately 0.08% of Ingevity worth $1,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG boosted its position in shares of Ingevity by 53.3% during the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock worth $1,383,000 after purchasing an additional 11,801 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Ingevity by 23.6% during the 4th quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock worth $37,825,000 after purchasing an additional 177,289 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Ingevity during the 4th quarter worth $302,000. Ameriprise Financial Inc. boosted its position in shares of Ingevity by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 224,199 shares of the company's stock worth $9,136,000 after purchasing an additional 2,810 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Ingevity by 799.4% during the 4th quarter. Ancora Advisors LLC now owns 88,230 shares of the company's stock worth $3,595,000 after purchasing an additional 78,420 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

NGVT has been the topic of several research analyst reports. Wall Street Zen lowered shares of Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. BMO Capital Markets upgraded shares of 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 research report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.75.

Ingevity Price Performance

Shares of Ingevity stock traded down $0.27 on Friday, hitting $41.04. The company's stock had a trading volume of 246,617 shares, compared to its average volume of 280,271. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $51.67. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The firm has a fifty day moving average price of $36.94 and a 200-day moving average price of $42.14. The company has a market capitalization of $1.50 billion, a P/E ratio of -3.47 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last released its 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. The company had revenue of $284.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

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.