Louisiana State Employees Retirement System Purchases Shares of 16,900 Ingevity Co. (NYSE:NGVT)

Louisiana State Employees Retirement System purchased a new stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,900 shares of the company's stock, valued at approximately $798,000.

Several other large investors also recently added to or reduced their stakes in the stock. Pathstone Family Office LLC lifted its position in Ingevity by 22.1% during the third quarter. Pathstone Family Office LLC now owns 4,430 shares of the company's stock valued at $211,000 after acquiring an additional 803 shares during the last quarter. Dakota Wealth Management increased its stake in Ingevity by 36.7% during the 3rd quarter. Dakota Wealth Management now owns 5,301 shares of the company's stock valued at $252,000 after purchasing an additional 1,422 shares in the last quarter. Inspire Investing LLC increased its stake in Ingevity by 20.5% during the 3rd quarter. Inspire Investing LLC now owns 6,475 shares of the company's stock valued at $308,000 after purchasing an additional 1,101 shares in the last quarter. Synovus Financial Corp increased its stake in Ingevity by 42.7% during the 3rd quarter. Synovus Financial Corp now owns 7,349 shares of the company's stock valued at $350,000 after purchasing an additional 2,198 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Ingevity during the 3rd quarter valued at approximately $353,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

Shares of NYSE NGVT traded up $0.64 during trading on Friday, hitting $48.51. The company had a trading volume of 146,152 shares, compared to its average volume of 174,097. The stock has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $43.77. Ingevity Co. has a fifty-two week low of $36.66 and a fifty-two week high of $72.76. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -220.50 and a beta of 1.85. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 2.19.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.34. The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. Ingevity's quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. On average, research analysts expect that Ingevity Co. will post 3.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ingevity from $43.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd. Jefferies Financial Group raised shares of Ingevity from a "hold" rating to a "buy" rating and raised their target price for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Ingevity currently has an average rating of "Hold" and a consensus target price of $51.40.

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.