7,403 Shares in Ingevity Co. (NYSE:NGVT) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in shares of Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,403 shares of the company’s stock, valued at approximately $302,000.

Other hedge funds have also bought and sold shares of the company. KBC Group NV raised its holdings in Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after buying an additional 433 shares during the last quarter. Arizona State Retirement System raised its holdings in Ingevity by 6.1% in the fourth quarter. Arizona State Retirement System now owns 10,550 shares of the company’s stock worth $430,000 after buying an additional 611 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in Ingevity by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company’s stock worth $307,000 after buying an additional 628 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in Ingevity by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company’s stock worth $658,000 after buying an additional 750 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Ingevity by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company’s stock worth $493,000 after buying an additional 765 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 0.4%

NGVT opened at $43.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The firm has a 50 day moving average price of $37.18 and a 200-day moving average price of $42.16. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $53.41. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.64 and a beta of 1.31.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.25. The company had revenue of $284.00 million during the quarter, compared to analyst estimates of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. Equities research analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NGVT shares. StockNews.com cut shares of Ingevity from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Wells Fargo & Company boosted their price objective on shares of Ingevity from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.75.

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.