Ingevity Co. (NYSE:NGVT) Shares Acquired by Southernsun Asset Management LLC

Southernsun Asset Management LLC boosted its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 686,490 shares of the company's stock after buying an additional 13,171 shares during the period. Ingevity makes up about 3.5% of Southernsun Asset Management LLC's portfolio, making the stock its 16th biggest holding. Southernsun Asset Management LLC owned about 1.89% of Ingevity worth $27,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Ingevity in the 4th quarter valued at approximately $1,229,000. State of Tennessee Department of Treasury lifted its position in shares of Ingevity by 47.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,153 shares of the company's stock valued at $495,000 after buying an additional 3,885 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Ingevity by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 22,088 shares of the company's stock valued at $900,000 after buying an additional 1,206 shares during the last quarter. Marshall Wace LLP raised its position in shares of Ingevity by 5.8% in the 4th quarter. Marshall Wace LLP now owns 207,005 shares of the company's stock valued at $8,435,000 after purchasing an additional 11,407 shares during the last quarter. Finally, Keeley Teton Advisors LLC purchased a new position in shares of Ingevity in the 4th quarter valued at approximately $1,442,000. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Performance

Shares of NYSE NGVT traded up $0.01 during midday trading on Friday, reaching $32.86. 324,154 shares of the stock were exchanged, compared to its average volume of 276,032. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -2.78 and a beta of 1.54. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $56.30. The firm has a 50-day simple moving average of $39.64 and a two-hundred day simple moving average of $41.81. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86.

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

Analyst Upgrades and Downgrades

NGVT has been the subject of several research analyst reports. Wells Fargo & Company decreased 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 report on Wednesday, April 9th. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ingevity currently has an average rating of "Moderate Buy" and an average price target of $52.20.

About Ingevity

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.