Hsbc Holdings PLC Makes New Investment in Ingevity Co. (NYSE:NGVT)

Hsbc Holdings PLC acquired a new position in Ingevity Co. (NYSE:NGVT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,971 shares of the company's stock, valued at approximately $1,229,000. Hsbc Holdings PLC owned about 0.08% of Ingevity at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock valued at $4,586,000 after buying an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ingevity in the fourth quarter valued at approximately $239,000. Proficio Capital Partners LLC bought a new position in Ingevity in the fourth quarter worth approximately $863,000. Raymond James Financial Inc. purchased a new position in Ingevity during the 4th quarter worth $3,018,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in Ingevity during the 4th quarter valued at $530,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 1.0 %

Shares of Ingevity stock traded up $0.36 on Monday, reaching $35.40. The stock had a trading volume of 482,344 shares, compared to its average volume of 274,126. Ingevity Co. has a 1 year low of $28.49 and a 1 year high of $56.28. The company has a 50 day moving average price of $38.27 and a 200 day moving average price of $41.76. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $1.29 billion, a P/E ratio of -2.99 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.99 earnings per share for the quarter, topping 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%. Ingevity's revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. As a group, equities research analysts forecast that Ingevity Co. will post 4.45 EPS for the current year.

Analyst Ratings Changes

NGVT has been the topic of a number of recent research reports. StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company cut their target price on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three 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, Ingevity currently has a consensus rating of "Moderate Buy" and an average target price of $52.20.

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.