New Mexico Educational Retirement Board Boosts Stock Position in Ingevity Corp (NYSE:NGVT)

New Mexico Educational Retirement Board boosted its holdings in Ingevity Corp (NYSE:NGVT) by 38.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,000 shares of the company’s stock after purchasing an additional 2,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Ingevity were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Americana Partners LLC purchased a new position in shares of Ingevity during the 4th quarter valued at $40,000. Permanens Capital L.P. purchased a new position in shares of Ingevity during the 4th quarter valued at $98,000. Shine Investment Advisory Services Inc. lifted its position in shares of Ingevity by 36.4% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,447 shares of the company’s stock valued at $51,000 after buying an additional 386 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Ingevity during the 1st quarter valued at $60,000. Finally, CapWealth Advisors LLC purchased a new position in shares of Ingevity during the 1st quarter valued at $212,000. 89.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NGVT opened at $52.66 on Friday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 10.79 and a beta of 2.42. The company has a quick ratio of 2.35, a current ratio of 3.49 and a debt-to-equity ratio of 2.99. The stock’s 50-day simple moving average is $51.92 and its two-hundred day simple moving average is $56.52. Ingevity Corp has a twelve month low of $24.92 and a twelve month high of $104.76.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.84 by $0.28. The firm had revenue of $288.20 million for the quarter, compared to analyst estimates of $263.61 million. Ingevity had a return on equity of 45.48% and a net margin of 15.82%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, research analysts anticipate that Ingevity Corp will post 3.57 EPS for the current fiscal year.

NGVT has been the topic of a number of recent research reports. Wells Fargo & Co upped their price target on Ingevity from $43.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer reiterated a “buy” rating and set a $65.00 price objective on shares of Ingevity in a research note on Wednesday, May 6th. SunTrust Banks decreased their price objective on Ingevity from $112.00 to $75.00 in a research note on Tuesday, March 24th. ValuEngine upgraded Ingevity from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Zacks Investment Research upgraded Ingevity from a “sell” rating to a “hold” rating and set a $55.00 price objective on the stock in a research note on Wednesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $70.88.

Ingevity Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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