Highbridge Capital Management LLC bought a new position in Ingevity Corporation (NYSE:NGVT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,035 shares of the company’s stock, valued at approximately $564,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Ingevity by 0.4% during the second quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock valued at $270,000 after purchasing an additional 21 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Ingevity by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock valued at $318,000 after purchasing an additional 57 shares during the period. Arizona State Retirement System boosted its stake in shares of Ingevity by 0.5% during the second quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock valued at $1,263,000 after purchasing an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Ingevity by 5.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock valued at $234,000 after purchasing an additional 210 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Ingevity by 5.4% during the second quarter. Amalgamated Bank now owns 5,963 shares of the company’s stock valued at $342,000 after purchasing an additional 307 shares during the period. 91.41% of the stock is owned by institutional investors and hedge funds.

Shares of Ingevity Corporation (NGVT) traded up $0.44 during trading on Friday, hitting $70.56. The company had a trading volume of 521,728 shares, compared to its average volume of 289,280. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36. The company has a market capitalization of $2,971.63, a P/E ratio of 28.57, a PEG ratio of 2.36 and a beta of 1.78. Ingevity Corporation has a one year low of $51.01 and a one year high of $80.18.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The company had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. equities analysts predict that Ingevity Corporation will post 2.49 EPS for the current year.

NGVT has been the subject of a number of analyst reports. Jefferies Group set a $71.00 price objective on Ingevity and gave the company a “buy” rating in a research note on Thursday, August 24th. KeyCorp reissued a “buy” rating and set a $70.00 price objective on shares of Ingevity in a research note on Friday, September 8th. BidaskClub lowered Ingevity from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Loop Capital initiated coverage on Ingevity in a research note on Thursday, September 28th. They set a “buy” rating and a $73.00 price objective for the company. Finally, Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Wednesday, October 4th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $78.17.

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Ingevity Profile

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.

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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