Wedge Capital Management L L P NC Grows Position in Ingevity Co. (NYSE:NGVT)

Wedge Capital Management L L P NC grew its position in Ingevity Co. (NYSE:NGVT - Free Report) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,106 shares of the company's stock after buying an additional 30,201 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.38% of Ingevity worth $6,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NGVT. Wellington Management Group LLP boosted its holdings in shares of Ingevity by 3.7% during the third quarter. Wellington Management Group LLP now owns 2,067,523 shares of the company's stock worth $98,435,000 after purchasing an additional 73,412 shares during the period. Victory Capital Management Inc. lifted its stake in Ingevity by 2.7% in the third quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company's stock valued at $56,029,000 after acquiring an additional 30,632 shares during the last quarter. Brown Advisory Inc. lifted its stake in Ingevity by 2.8% in the third quarter. Brown Advisory Inc. now owns 741,755 shares of the company's stock valued at $35,315,000 after acquiring an additional 20,376 shares during the last quarter. American Century Companies Inc. raised its position in shares of Ingevity by 14.4% in the third quarter. American Century Companies Inc. now owns 494,464 shares of the company's stock valued at $23,541,000 after purchasing an additional 62,418 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ingevity by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,066 shares of the company's stock valued at $20,904,000 after purchasing an additional 25,550 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NGVT shares. Wells Fargo & Company lifted their price target on shares of Ingevity from $43.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, February 23rd. Jefferies Financial Group raised shares of Ingevity from a "hold" rating to a "buy" rating and boosted their target price for the stock from $52.00 to $62.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ingevity currently has a consensus rating of "Hold" and an average target price of $51.40.

Ingevity Price Performance

NYSE NGVT traded down $0.67 on Wednesday, hitting $48.23. 235,961 shares of the company were exchanged, compared to its average volume of 223,107. The firm has a 50 day moving average of $46.33 and a two-hundred day moving average of $43.66. The company has a market cap of $1.75 billion, a P/E ratio of -220.32 and a beta of 1.85. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. Ingevity Co. has a 1-year low of $36.66 and a 1-year high of $72.76.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.34. The business had revenue of $371.70 million for the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The firm's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities analysts predict that Ingevity Co. will post 3.66 EPS for the current year.

Ingevity 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.