Lighthouse Investment Partners LLC Buys New Shares in Ingevity Co. (NYSE:NGVT)

Lighthouse Investment Partners LLC purchased a new position in shares of Ingevity Co. (NYSE:NGVT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,392 shares of the company's stock, valued at approximately $953,000. Lighthouse Investment Partners LLC owned 0.06% of Ingevity at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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. Arizona State Retirement System boosted its holdings in Ingevity by 6.1% during the 4th quarter. Arizona State Retirement System now owns 10,550 shares of the company's stock valued at $430,000 after acquiring an additional 611 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in Ingevity by 9.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company's stock valued at $307,000 after acquiring an additional 628 shares during the period. Hudson Edge Investment Partners Inc. boosted its holdings in Ingevity by 4.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company's stock valued at $658,000 after acquiring an additional 750 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Ingevity by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company's stock valued at $493,000 after acquiring an additional 765 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Performance

Shares of NYSE:NGVT traded up $0.17 during trading on Tuesday, reaching $42.55. The company had a trading volume of 22,373 shares, compared to its average volume of 279,983. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.59 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock's fifty day moving average price is $37.13 and its 200 day moving average price is $42.17. Ingevity Co. has a fifty-two week low of $28.49 and a fifty-two week high of $53.41.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, beating 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%. The firm had revenue of $284.00 million for the quarter, compared to the consensus estimate of $299.13 million. During the same period in the previous year, the business earned $0.47 earnings per share. The company's revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and raised their target price for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Wells Fargo & Company increased their price target on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.