Louisiana State Employees Retirement System Takes Position in Ingevity Co. (NYSE:NGVT)

Louisiana State Employees Retirement System purchased a new stake in Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,900 shares of the company’s stock, valued at approximately $798,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pathstone Family Office LLC raised its position in shares of Ingevity by 22.1% in the third quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after purchasing an additional 803 shares during the period. Dakota Wealth Management increased its holdings in Ingevity by 36.7% during the 3rd quarter. Dakota Wealth Management now owns 5,301 shares of the company’s stock worth $252,000 after acquiring an additional 1,422 shares during the period. Inspire Investing LLC increased its holdings in Ingevity by 20.5% during the 3rd quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $308,000 after acquiring an additional 1,101 shares during the period. Synovus Financial Corp increased its holdings in Ingevity by 42.7% during the 3rd quarter. Synovus Financial Corp now owns 7,349 shares of the company’s stock worth $350,000 after acquiring an additional 2,198 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in Ingevity during the 3rd quarter worth approximately $353,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NGVT. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. Wells Fargo & Company upped 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.40.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $48.51 on Friday. The company’s fifty day moving average price is $46.42 and its 200-day moving average price is $43.72. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -220.50 and a beta of 1.85. Ingevity Co. has a one year low of $36.66 and a one year high of $72.76. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ingevity Co. will post 3.69 earnings per share 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.