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

Brown Advisory Inc. grew its position in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maple Rock Capital Partners Inc. purchased a new stake in Ingevity in the 4th quarter worth approximately $17,515,000. American Century Companies Inc. increased its holdings in shares of Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after purchasing an additional 398,800 shares in the last quarter. Vision One Management Partners LP increased its holdings in shares of Ingevity by 265.0% in the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after purchasing an additional 298,157 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Ingevity by 22.4% in the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after purchasing an additional 208,921 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Ingevity in the fourth quarter worth $4,882,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Ingevity Stock Performance

NYSE NGVT traded up $0.81 on Thursday, hitting $48.23. 155,488 shares of the company traded hands, compared to its average volume of 275,840. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.95 and a beta of 1.38. The company has a current ratio of 2.00, a quick ratio of 1.08 and a debt-to-equity ratio of 5.68. The business's 50 day moving average price is $42.20 and its 200-day moving average price is $41.41. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $51.67.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate 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 63.76% and a negative net margin of 26.20%. Ingevity's quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. Equities analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current 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.