Walnut Level Capital LLC Invests $1.63 Million in Ingevity Co. (NYSE:NGVT)

Walnut Level Capital LLC acquired a new position in shares of Ingevity Co. (NYSE:NGVT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $1,630,000. Ingevity makes up about 0.6% of Walnut Level Capital LLC’s portfolio, making the stock its 25th largest position. Walnut Level Capital LLC owned approximately 0.11% of Ingevity as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. KBC Group NV increased its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Ingevity by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 27,908 shares of the company’s stock valued at $1,088,000 after purchasing an additional 1,751 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Ingevity during the 3rd quarter valued at approximately $371,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ingevity by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 607,628 shares of the company’s stock valued at $23,697,000 after purchasing an additional 50,692 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Performance

Shares of Ingevity stock opened at $42.26 on Monday. The stock’s fifty day moving average is $45.28 and its two-hundred day moving average is $42.34. The company has a market capitalization of $1.54 billion, a PE ratio of -3.57 and a beta of 1.53. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.30.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. As a group, analysts expect that Ingevity Co. will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NGVT has been the topic of several analyst reports. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com raised Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingevity has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

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.