Russell Investments Group Ltd. Grows Stake in Ingevity Co. (NYSE:NGVT)

Russell Investments Group Ltd. boosted its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 186.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,193 shares of the company's stock after purchasing an additional 45,021 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Ingevity worth $3,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Ingevity in the 4th quarter worth $41,000. New York State Common Retirement Fund increased its stake in Ingevity by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 184,783 shares of the company's stock valued at $8,725,000 after acquiring an additional 5,771 shares during the period. Wedge Capital Management L L P NC raised its holdings in Ingevity by 28.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 137,106 shares of the company's stock valued at $6,474,000 after acquiring an additional 30,201 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Ingevity by 1.3% in the 4th quarter. Jennison Associates LLC now owns 19,588 shares of the company's stock worth $925,000 after acquiring an additional 249 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Ingevity during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NGVT shares. Loop Capital upped their target price on Ingevity from $49.00 to $56.00 and gave the company a "hold" rating in a research note on Tuesday, May 7th. Oppenheimer lifted their target price on shares of Ingevity from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Thursday, May 2nd. BMO Capital Markets increased their price target on shares of Ingevity from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 8th. Jefferies Financial Group raised Ingevity from a "hold" rating to a "buy" rating and lifted their price objective for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.00.

Ingevity Price Performance

Shares of NYSE NGVT traded up $0.12 during mid-day trading on Monday, hitting $54.60. 156,057 shares of the stock were exchanged, compared to its average volume of 227,546. The company has a market cap of $1.98 billion, a P/E ratio of -17.56 and a beta of 1.79. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. Ingevity Co. has a twelve month low of $36.66 and a twelve month high of $66.18. The stock's fifty day simple moving average is $47.78 and its two-hundred day simple moving average is $44.69.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.15. The company had revenue of $340.10 million for the quarter, compared to analyst estimates of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business's revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. As a group, analysts forecast that Ingevity Co. will post 3.78 EPS for the current fiscal year.

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.