Marshall Wace LLP Boosts Stock Position in Ingevity Co. (NYSE:NGVT)

Marshall Wace LLP increased its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,005 shares of the company's stock after acquiring an additional 11,407 shares during the period. Marshall Wace LLP owned approximately 0.57% of Ingevity worth $8,435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after acquiring an additional 433 shares during the period. Empowered Funds LLC purchased a new stake in Ingevity in the fourth quarter worth $187,000. O Shaughnessy Asset Management LLC purchased a new stake in Ingevity in the fourth quarter worth $214,000. Teacher Retirement System of Texas purchased a new stake in Ingevity in the fourth quarter worth $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Ingevity in the fourth quarter worth $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 1.2 %

Shares of Ingevity stock traded down $0.40 during trading on Monday, hitting $32.48. 307,360 shares of the stock traded hands, compared to its average volume of 276,157. The firm has a market cap of $1.18 billion, a P/E ratio of -2.74 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $56.30. The stock's fifty day simple moving average is $39.64 and its 200 day simple moving average is $41.81.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. On average, equities analysts predict that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.20.

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.