Northern Trust Corp Grows Position in Ingevity Co. (NYSE:NGVT)

Northern Trust Corp raised its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,698 shares of the company's stock after purchasing an additional 68,247 shares during the period. Northern Trust Corp owned 1.21% of Ingevity worth $17,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. KBC Group NV grew its stake in shares of Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock worth $82,000 after acquiring an additional 433 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $187,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $214,000. Teacher Retirement System of Texas purchased a new stake in shares of Ingevity during the fourth quarter worth about $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ingevity during the fourth quarter worth about $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Performance

NYSE NGVT traded down $0.59 during trading hours on Monday, reaching $42.36. The stock had a trading volume of 154,681 shares, compared to its average volume of 281,010. The stock has a fifty day moving average of $37.13 and a 200 day moving average of $42.17. The stock has a market cap of $1.54 billion, a P/E ratio of -3.58 and a beta of 1.31. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $53.41. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Ingevity's revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Sell-side analysts predict that Ingevity Co. will post 4.45 earnings per share for the current year.

Analyst Ratings Changes

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

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.