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New York State Common Retirement Fund Boosts Holdings in Ingevity Corporation (NYSE:NGVT)

Ingevity logo with Basic Materials background

New York State Common Retirement Fund increased its stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 175,572 shares of the company's stock after buying an additional 10,906 shares during the period. New York State Common Retirement Fund owned about 0.48% of Ingevity worth $6,951,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after acquiring an additional 618 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Ingevity during the 4th quarter valued at $214,000. Teacher Retirement System of Texas bought a new position in shares of Ingevity during the 4th quarter valued at $237,000. Balyasny Asset Management L.P. bought a new position in shares of Ingevity during the 4th quarter valued at $302,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Ingevity by 28.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock worth $313,000 after acquiring an additional 1,717 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 0.3%

NGVT opened at $46.16 on Monday. The company has a quick ratio of 1.08, a current ratio of 2.00 and a debt-to-equity ratio of 5.68. The firm has a 50 day moving average price of $43.47 and a 200-day moving average price of $41.70. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $51.67. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.74 and a beta of 1.38.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data 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. Ingevity had a negative net margin of 26.20% and a positive return on equity of 63.76%. The firm had revenue of $284.00 million during the quarter, compared to analysts' expectations of $299.13 million. During the same period in the previous year, the company earned $0.47 earnings per share. The firm's quarterly revenue was down 16.5% on a year-over-year basis. Equities research analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $55.25.

Get Our Latest Stock Analysis on NGVT

Ingevity Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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