Hsbc Holdings PLC Invests $1.23 Million in Ingevity Co. (NYSE:NGVT)

Hsbc Holdings PLC purchased a new position in shares of Ingevity Co. (NYSE:NGVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,971 shares of the company's stock, valued at approximately $1,229,000. Hsbc Holdings PLC owned about 0.08% of Ingevity as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. State of Tennessee Department of Treasury grew its holdings in Ingevity by 47.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,153 shares of the company's stock valued at $495,000 after buying an additional 3,885 shares during the last quarter. MetLife Investment Management LLC raised its stake in Ingevity by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 22,088 shares of the company's stock valued at $900,000 after purchasing an additional 1,206 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Ingevity by 5.8% during the 4th quarter. Marshall Wace LLP now owns 207,005 shares of the company's stock worth $8,435,000 after purchasing an additional 11,407 shares during the last quarter. Keeley Teton Advisors LLC purchased a new stake in Ingevity in the 4th quarter worth approximately $1,442,000. Finally, Barclays PLC grew its position in shares of Ingevity by 3.8% in the fourth quarter. Barclays PLC now owns 69,272 shares of the company's stock valued at $2,823,000 after purchasing an additional 2,511 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Performance

NGVT stock traded up $0.17 during trading on Thursday, reaching $39.40. 41,317 shares of the company's stock were exchanged, compared to its average volume of 276,238. The firm has a market cap of $1.44 billion, a PE ratio of -3.33 and a beta of 1.31. 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 Co. has a 1-year low of $28.49 and a 1-year high of $56.28. The company's fifty day moving average price is $37.67 and its 200-day moving average price is $41.73.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 negative net margin of 30.60% and a positive return on equity of 41.44%. Ingevity's quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. On average, research analysts expect that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their price target for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on shares of Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.75.

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.