Wellington Management Group LLP Acquires 115,581 Shares of Ingevity Co. (NYSE:NGVT)

Wellington Management Group LLP raised its position in Ingevity Co. (NYSE:NGVT - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,239,970 shares of the company's stock after purchasing an additional 115,581 shares during the quarter. Wellington Management Group LLP owned 6.16% of Ingevity worth $91,279,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Ingevity by 3.7% in the fourth quarter. California State Teachers Retirement System now owns 33,993 shares of the company's stock valued at $1,385,000 after purchasing an additional 1,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Ingevity by 28.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock valued at $313,000 after purchasing an additional 1,717 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ingevity in the fourth quarter valued at about $1,423,000. Mackenzie Financial Corp bought a new position in Ingevity in the fourth quarter valued at about $644,000. Finally, Vision One Management Partners LP increased its stake in shares of Ingevity by 265.0% in the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock valued at $16,735,000 after buying an additional 298,157 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NGVT shares. Wells Fargo & Company increased their price target on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen cut Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and increased their price target for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ingevity has a consensus rating of "Moderate Buy" and an average price target of $52.75.

Ingevity Trading Down 1.6%

NGVT traded down $0.65 during trading on Monday, hitting $40.72. The company's stock had a trading volume of 176,043 shares, compared to its average volume of 280,465. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.44 and a beta of 1.31. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $51.67. The stock's fifty day moving average price is $36.81 and its 200-day moving average price is $41.91. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company's revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. Analysts anticipate that Ingevity Co. will post 4.45 EPS 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.