CenterBook Partners LP Boosts Stock Holdings in Ingevity Corporation $NGVT

CenterBook Partners LP lifted its holdings in Ingevity Corporation (NYSE:NGVT) by 82.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 124,288 shares of the company’s stock after purchasing an additional 56,045 shares during the period. CenterBook Partners LP owned about 0.34% of Ingevity worth $5,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S raised its stake in Ingevity by 21.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock worth $66,000 after buying an additional 297 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Ingevity by 12.9% in the 1st quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock valued at $205,000 after acquiring an additional 594 shares during the period. Keybank National Association OH bought a new position in shares of Ingevity in the 2nd quarter worth $206,000. Aristeia Capital L.L.C. bought a new position in shares of Ingevity in the 1st quarter worth $347,000. Finally, Inspire Investing LLC lifted its stake in shares of Ingevity by 4.1% during the 2nd quarter. Inspire Investing LLC now owns 9,038 shares of the company’s stock worth $389,000 after purchasing an additional 358 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

NGVT opened at $49.60 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of -8.34 and a beta of 1.45. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24. The firm’s 50-day moving average price is $53.61 and its 200-day moving average price is $49.47. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $60.77.

Ingevity (NYSE:NGVT) last released its earnings results on Friday, March 24th. The company reported $0.78 EPS for the quarter. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. The company had revenue of $336.00 million during the quarter. As a group, equities analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on NGVT. BMO Capital Markets boosted their target price on shares of Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price objective on shares of Ingevity from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.50.

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.