Wells Fargo & Company MN Grows Position in Ingevity Co. (NYSE:NGVT)

Wells Fargo & Company MN boosted its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 46.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,055 shares of the company's stock after acquiring an additional 11,742 shares during the quarter. Wells Fargo & Company MN owned 0.10% of Ingevity worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NGVT. KBC Group NV boosted its holdings in shares of Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after buying an additional 433 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at about $187,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at about $214,000. Teacher Retirement System of Texas purchased a new stake in shares of Ingevity during the 4th quarter valued at about $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ingevity during the 4th quarter valued at about $239,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NGVT. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com cut shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Ingevity presently has an average rating of "Moderate Buy" and an average target price of $52.20.

Ingevity Stock Up 0.3 %

Shares of NGVT traded up $0.12 during mid-day trading on Thursday, hitting $33.10. The company's stock had a trading volume of 68,311 shares, compared to its average volume of 275,154. The company's 50-day moving average is $39.05 and its 200-day moving average is $41.74. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $56.30. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.79 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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. On average, equities research analysts forecast that Ingevity Co. will post 4.45 EPS for the current fiscal 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.