Ingevity Corporation (NYSE:NGVT) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its stake in Ingevity Corporation (NYSE:NGVT - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,445 shares of the company's stock after buying an additional 65,847 shares during the period. Royce & Associates LP owned 3.32% of Ingevity worth $47,842,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NGVT. GAMMA Investing LLC increased its position in Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after purchasing an additional 618 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Ingevity during the 4th quarter valued at about $214,000. Teacher Retirement System of Texas purchased a new position in Ingevity during the 4th quarter valued at about $237,000. Optimist Retirement Group LLC purchased a new position in Ingevity during the 1st quarter valued at about $246,000. Finally, Balyasny Asset Management L.P. purchased a new position in Ingevity during the 4th quarter valued at about $302,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Ingevity from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company raised their price target on shares of Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.25.

Ingevity Stock Down 1.5%

Shares of NYSE:NGVT traded down $0.67 during trading on Monday, reaching $45.73. The stock had a trading volume of 186,696 shares, compared to its average volume of 246,205. Ingevity Corporation has a one year low of $28.49 and a one year high of $51.67. The company has a market capitalization of $1.67 billion, a P/E ratio of -4.69 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 firm's 50-day simple moving average is $43.78 and its 200 day simple moving average is $41.96.

Ingevity (NYSE:NGVT - Get Free Report) last released 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. The company had revenue of $284.00 million during 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%. Ingevity's revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. As a group, research analysts expect that Ingevity Corporation will post 4.45 EPS for the current fiscal 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.