Ingevity Co. (NYSE:NGVT) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 5.0% during the fourth quarter, according to its most recent filing with the SEC. The firm 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.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Ingevity by 24.9% in the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock worth $4,586,000 after acquiring an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Ingevity in the 4th quarter worth approximately $239,000. Proficio Capital Partners LLC purchased a new stake in Ingevity during the 4th quarter worth approximately $863,000. Raymond James Financial Inc. purchased a new stake in Ingevity during the 4th quarter worth approximately $3,018,000. Finally, Barclays PLC increased its stake in Ingevity by 245.3% during the 3rd quarter. Barclays PLC now owns 66,761 shares of the company's stock valued at $2,603,000 after purchasing an additional 47,429 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Finally, BMO Capital Markets upgraded 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 note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.75.

Ingevity Price Performance

Shares of NYSE:NGVT traded down $0.33 during midday trading on Thursday, hitting $40.73. The company's stock had a trading volume of 39,798 shares, compared to its average volume of 279,724. The company has a market cap of $1.49 billion, a P/E ratio of -3.44 and a beta of 1.31. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $51.67. The business's 50 day simple moving average is $37.06 and its 200 day simple moving average is $42.16. 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 (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. The company had revenue of $284.00 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.47 EPS. On average, analysts forecast that Ingevity Co. will post 4.45 EPS for the current year.

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.