Geode Capital Management LLC Has $36.22 Million Holdings in Ingevity Corporation $NGVT

Geode Capital Management LLC increased its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 840,459 shares of the company’s stock after acquiring an additional 1,619 shares during the period. Geode Capital Management LLC’s holdings in Ingevity were worth $36,221,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NGVT. BI Asset Management Fondsmaeglerselskab A S lifted its position in Ingevity by 21.6% during the 1st 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 position in shares of Ingevity by 12.9% in the first 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 last quarter. Keybank National Association OH bought a new stake in Ingevity during the second quarter worth about $206,000. Aristeia Capital L.L.C. acquired a new position in Ingevity during the first quarter valued at approximately $347,000. Finally, Inspire Investing LLC boosted its position in Ingevity by 4.1% during the second quarter. Inspire Investing LLC now owns 9,038 shares of the company’s stock valued at $389,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 0.3%

NGVT opened at $52.34 on Thursday. The stock’s fifty day simple moving average is $53.30 and its 200 day simple moving average is $49.78. Ingevity Corporation has a 1-year low of $28.49 and a 1-year high of $60.77. The stock has a market cap of $1.88 billion, a PE ratio of -8.80 and a beta of 1.45. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24.

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

Analyst Upgrades and Downgrades

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

Ingevity 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.