Raymond James Financial Inc. Makes New Investment in Ingevity Co. (NYSE:NGVT)

Raymond James Financial Inc. purchased a new stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 74,051 shares of the company's stock, valued at approximately $3,018,000. Raymond James Financial Inc. owned 0.20% of Ingevity as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. KBC Group NV grew its position in Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after buying an additional 433 shares during the period. Empowered Funds LLC bought a new position in Ingevity in the 4th quarter worth $187,000. O Shaughnessy Asset Management LLC bought a new stake in Ingevity during the fourth quarter valued at about $214,000. Teacher Retirement System of Texas purchased a new stake in Ingevity in the fourth quarter worth about $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Ingevity in the fourth quarter worth about $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Price Performance

Shares of NYSE:NGVT traded up $1.72 during midday trading on Friday, reaching $35.00. 316,144 shares of the company were exchanged, compared to its average volume of 273,290. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock has a market cap of $1.28 billion, a PE ratio of -2.96 and a beta of 1.31. The business's fifty day moving average is $38.27 and its two-hundred day moving average is $41.72. Ingevity Co. has a one year low of $28.49 and a one year high of $56.28.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. As a group, analysts predict that Ingevity Co. will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

NGVT has been the subject of a number of recent research reports. StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Wells Fargo & Company reduced their price objective on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ingevity has an average rating of "Moderate Buy" and an average target price of $52.20.

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.