MetLife Investment Advisors LLC purchased a new position in Ingevity Corp (NYSE:NGVT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,625 shares of the company’s stock, valued at approximately $1,313,000.
Several other hedge funds also recently made changes to their positions in the company. Gotham Asset Management LLC grew its position in Ingevity by 527.8% during the fourth quarter. Gotham Asset Management LLC now owns 23,518 shares of the company’s stock valued at $1,657,000 after buying an additional 19,772 shares during the period. Jane Street Group LLC bought a new stake in Ingevity during the fourth quarter valued at approximately $206,000. Meadow Creek Investment Management LLC grew its position in Ingevity by 17.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,460 shares of the company’s stock valued at $385,000 after buying an additional 812 shares during the period. Teachers Advisors LLC grew its position in Ingevity by 0.8% during the fourth quarter. Teachers Advisors LLC now owns 120,609 shares of the company’s stock valued at $8,499,000 after buying an additional 950 shares during the period. Finally, Raymond James & Associates grew its position in Ingevity by 2.1% during the fourth quarter. Raymond James & Associates now owns 33,116 shares of the company’s stock valued at $2,334,000 after buying an additional 683 shares during the period. Hedge funds and other institutional investors own 92.40% of the company’s stock.
Shares of NYSE:NGVT opened at $74.03 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 1.60. Ingevity Corp has a 1-year low of $53.62 and a 1-year high of $82.10. The company has a market cap of $3,114.81, a price-to-earnings ratio of 28.69, a PEG ratio of 1.85 and a beta of 1.04.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. Ingevity had a net margin of 12.99% and a return on equity of 50.74%. The business had revenue of $229.50 million for the quarter, compared to the consensus estimate of $214.94 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. equities research analysts predict that Ingevity Corp will post 3.34 EPS for the current fiscal year.
Several brokerages recently issued reports on NGVT. Zacks Investment Research lowered shares of Ingevity from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 15th. Buckingham Research upgraded shares of Ingevity from a “neutral” rating to a “buy” rating and boosted their target price for the company from $64.00 to $92.00 in a research report on Thursday, March 8th. Jefferies Group boosted their target price on shares of Ingevity to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Loop Capital lowered shares of Ingevity from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Tuesday, February 27th. Finally, SunTrust Banks restated a “buy” rating and set a $90.00 target price on shares of Ingevity in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.13.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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