Brown Advisory Inc. Buys 10,600 Shares of Ingevity Corporation (NYSE:NGVT)

Brown Advisory Inc. raised its stake in Ingevity Corporation (NYSE:NGVT - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 938,820 shares of the company's stock after purchasing an additional 10,600 shares during the quarter. Brown Advisory Inc. owned approximately 2.58% of Ingevity worth $37,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock worth $45,000 after acquiring an additional 618 shares during the period. Deutsche Bank AG lifted its holdings in 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 during the last quarter. Palisade Capital Management LP lifted its holdings in Ingevity by 6.8% during the 1st quarter. Palisade Capital Management LP now owns 511,059 shares of the company's stock worth $20,233,000 after purchasing an additional 32,511 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Ingevity during the 4th quarter worth approximately $863,000. Finally, Raymond James Financial Inc. acquired a new stake in Ingevity during the 4th quarter worth approximately $3,018,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target 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 raised Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $52.75.

Ingevity Price Performance

Shares of Ingevity stock traded down $0.77 during trading on Friday, reaching $47.45. 161,114 shares of the company's stock were exchanged, compared to its average volume of 276,412. 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 Corporation has a 1-year low of $28.49 and a 1-year high of $51.67. The company has a market cap of $1.73 billion, a P/E ratio of -4.87 and a beta of 1.38. The firm's 50-day moving average price is $42.75 and its 200 day moving average price is $41.50.

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

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.