Teacher Retirement System of Texas Purchases 14,134 Shares of Ingevity Corporation (NYSE:NGVT)

Teacher Retirement System of Texas grew its stake in Ingevity Corporation (NYSE:NGVT - Free Report) by 243.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,946 shares of the company's stock after buying an additional 14,134 shares during the period. Teacher Retirement System of Texas owned 0.05% of Ingevity worth $790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its stake in Ingevity by 5.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 29,287 shares of the company's stock valued at $1,159,000 after acquiring an additional 1,517 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ingevity by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company's stock worth $317,000 after acquiring an additional 333 shares during the period. GAMMA Investing LLC raised its holdings in Ingevity by 119.1% in the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after buying an additional 618 shares during the period. NBC Securities Inc. raised its holdings in Ingevity by 112,655.6% in the first quarter. NBC Securities Inc. now owns 10,148 shares of the company's stock valued at $401,000 after buying an additional 10,139 shares during the period. Finally, First Hawaiian Bank raised its holdings in Ingevity by 19.6% in the first quarter. First Hawaiian Bank now owns 12,832 shares of the company's stock valued at $508,000 after buying an additional 2,102 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Trading Down 1.4%

NYSE NGVT traded down $0.66 on Friday, hitting $45.66. 63,038 shares of the company were exchanged, compared to its average volume of 274,841. The company's 50 day moving average price is $43.36 and its 200-day moving average price is $41.64. 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 firm has a market capitalization of $1.67 billion, a P/E ratio of -4.69 and a beta of 1.38. Ingevity Corporation has a twelve month low of $28.49 and a twelve month 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. Ingevity had a positive return on equity of 63.76% and a negative net margin of 26.20%. The company had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business's revenue for the quarter was down 16.5% on a year-over-year basis. Analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised 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 objective on shares of Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ingevity has a consensus rating of "Buy" and an average target price 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.