Millennium Management LLC Raises Stock Holdings in Ingevity Co. (NYSE:NGVT)

Millennium Management LLC raised its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,135,231 shares of the company's stock after purchasing an additional 53,807 shares during the period. Millennium Management LLC owned 3.12% of Ingevity worth $46,261,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. purchased a new stake in shares of Ingevity during the 4th quarter valued at $17,515,000. American Century Companies Inc. grew its position in Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock valued at $59,388,000 after acquiring an additional 398,800 shares during the period. Royce & Associates LP increased its stake in Ingevity by 22.4% during the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after acquiring an additional 208,921 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Ingevity by 23.6% in the 4th quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock worth $37,825,000 after purchasing an additional 177,289 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Ingevity in the 4th quarter valued at about $4,882,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 3.6%

Shares of NYSE:NGVT traded down $1.52 during mid-day trading on Wednesday, hitting $41.06. 309,418 shares of the company traded hands, compared to its average volume of 280,771. The firm's 50 day simple moving average is $37.12 and its 200 day simple moving average is $42.17. The firm has a market cap of $1.50 billion, a P/E ratio of -3.47 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. 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 posted 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. The company had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business's quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities analysts anticipate that Ingevity Co. will post 4.45 EPS for the current year.

Analyst Upgrades and Downgrades

NGVT has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Ingevity has a consensus rating of "Moderate Buy" and a consensus target price of $52.75.

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.