Rice Hall James & Associates LLC Has $14.42 Million Holdings in Ingevity Corporation (NYSE:NGVT)

Rice Hall James & Associates LLC raised its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 364,216 shares of the company's stock after purchasing an additional 7,947 shares during the period. Rice Hall James & Associates LLC owned 1.00% of Ingevity worth $14,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Ingevity by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,267 shares of the company's stock worth $26,335,000 after purchasing an additional 38,639 shares during the period. Proficio Capital Partners LLC bought a new position in Ingevity during the fourth quarter worth about $863,000. Arizona State Retirement System grew its position in shares of Ingevity by 6.1% during the 4th quarter. Arizona State Retirement System now owns 10,550 shares of the company's stock worth $430,000 after buying an additional 611 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Ingevity in the 4th quarter valued at about $3,018,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Ingevity by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company's stock valued at $493,000 after acquiring an additional 765 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 1.2%

NGVT traded down $0.57 during trading on Monday, reaching $46.99. The company had a trading volume of 145,427 shares, compared to its average volume of 251,238. The company has a market cap of $1.71 billion, a P/E ratio of -4.82 and a beta of 1.38. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $51.67. The company has a debt-to-equity ratio of 5.68, a current ratio of 2.00 and a quick ratio of 1.08. The business's fifty 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 data on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.74 by $0.25. The business had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a negative net margin of 26.20% and a positive return on equity of 63.76%. The firm's revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. Equities analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NGVT shares. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Wells Fargo & Company lifted their price target on shares of Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $55.25.

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.