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

Wellington Management Group LLP lifted its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,239,970 shares of the company's stock after buying an additional 115,581 shares during the period. Wellington Management Group LLP owned about 6.16% of Ingevity worth $91,279,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Ingevity by 3.7% during the fourth quarter. California State Teachers Retirement System now owns 33,993 shares of the company's stock valued at $1,385,000 after buying an additional 1,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted 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 worth $313,000 after purchasing an additional 1,717 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ingevity in the fourth quarter worth $1,423,000. Mackenzie Financial Corp purchased a new position in Ingevity in the fourth quarter worth $644,000. Finally, Vision One Management Partners LP boosted its position in Ingevity by 265.0% in the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after purchasing an additional 298,157 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Performance

Shares of NGVT traded down $1.45 during mid-day trading on Friday, hitting $41.36. The stock had a trading volume of 182,316 shares, compared to its average volume of 280,884. The firm has a market cap of $1.51 billion, a P/E ratio of -3.49 and a beta of 1.31. The business has a fifty day moving average price of $36.86 and a 200-day moving average price of $41.97. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a 52 week low of $28.49 and a 52 week high of $51.67.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. During the same period in the previous year, the company posted $0.47 EPS. The firm's revenue for the quarter was down 16.5% compared to the same quarter last year. On average, equities research analysts expect that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NGVT. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ingevity presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.75.

Ingevity 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.