Boothbay Fund Management LLC Raises Stock Position in Ingevity Co. (NYSE:NGVT)

Boothbay Fund Management LLC grew its holdings in Ingevity Co. (NYSE:NGVT) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,106 shares of the company’s stock after buying an additional 1,501 shares during the period. Boothbay Fund Management LLC owned approximately 0.14% of Ingevity worth $2,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after buying an additional 115,581 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Ingevity by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock worth $52,457,000 after purchasing an additional 101,866 shares during the period. Royce & Associates LP boosted its stake in shares of Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after purchasing an additional 208,921 shares during the period. Finally, Southernsun Asset Management LLC boosted its stake in shares of Ingevity by 2.0% during the 4th quarter. Southernsun Asset Management LLC now owns 686,490 shares of the company’s stock worth $27,974,000 after purchasing an additional 13,171 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

Ingevity stock opened at $32.86 on Monday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -2.78 and a beta of 1.54. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a 1 year low of $28.49 and a 1 year high of $56.30. The firm has a 50-day moving average of $39.64 and a two-hundred day moving average of $41.81.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. On average, research analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current year.

Analysts Set New Price Targets

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