Brown Advisory Inc. Grows Holdings in Ingevity Corporation (NYSE:NGVT)

Brown Advisory Inc. increased its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 938,820 shares of the company's stock after purchasing an additional 10,600 shares during the period. Brown Advisory Inc. owned approximately 2.58% of Ingevity worth $37,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Ingevity by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company's stock valued at $26,335,000 after buying an additional 38,639 shares during the period. Proficio Capital Partners LLC acquired a new stake in Ingevity during the fourth quarter valued at $863,000. Arizona State Retirement System grew its position in Ingevity by 6.1% during the fourth quarter. Arizona State Retirement System now owns 10,550 shares of the company's stock valued at $430,000 after buying an additional 611 shares during the period. Raymond James Financial Inc. acquired a new stake in Ingevity during the fourth quarter valued at $3,018,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Ingevity by 6.8% in the fourth 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 period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGVT. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Wells Fargo & Company lifted their target price on shares of Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. One equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $52.75.

Ingevity Price Performance

Shares of NYSE:NGVT traded down $0.77 during midday trading on Friday, hitting $47.45. The company's stock had a trading volume of 161,114 shares, compared to its average volume of 276,115. The business's 50 day simple moving average is $42.75 and its 200 day simple moving average is $41.50. The company has a debt-to-equity ratio of 5.68, a quick ratio of 1.08 and a current ratio of 2.00. The company has a market cap of $1.73 billion, a P/E ratio of -4.87 and a beta of 1.38. Ingevity Corporation has a 12-month low of $28.49 and a 12-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 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 company had revenue of $284.00 million for the quarter, compared to the consensus estimate of $299.13 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Ingevity's quarterly revenue was down 16.5% compared to the same quarter last year. On average, analysts forecast that Ingevity Corporation will post 4.45 EPS for the current 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.