Strs Ohio Takes $878,000 Position in Ingevity Corporation $NGVT

Strs Ohio acquired a new stake in shares of Ingevity Corporation (NYSE:NGVT) during the third quarter, according to its most recent filing with the SEC. The fund acquired 15,900 shares of the company’s stock, valued at approximately $878,000.

Several other large investors have also added to or reduced their stakes in NGVT. Geneos Wealth Management Inc. increased its position in shares of Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after buying an additional 387 shares during the period. Headlands Technologies LLC purchased a new position in Ingevity during the second quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC bought a new stake in Ingevity during the 2nd quarter worth approximately $60,000. EverSource Wealth Advisors LLC increased its holdings in Ingevity by 51.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after acquiring an additional 550 shares during the period. Finally, State of Wyoming purchased a new stake in Ingevity in the 2nd quarter worth approximately $145,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of Ingevity stock opened at $66.21 on Thursday. The firm has a market capitalization of $2.38 billion, a PE ratio of -36.38 and a beta of 1.36. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $69.80. The business’s 50-day moving average price is $59.56 and its 200-day moving average price is $55.26.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, November 5th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.38. Ingevity had a positive return on equity of 103.69% and a negative net margin of 5.14%.The company had revenue of $333.10 million during the quarter, compared to the consensus estimate of $360.43 million. During the same quarter in the previous year, the company posted $1.10 EPS. Ingevity’s quarterly revenue was down 3.9% compared to the same quarter last year. Sell-side analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NGVT. Zacks Research raised shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. BMO Capital Markets lifted their price target on Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Wells Fargo & Company set a $65.00 target price on shares of Ingevity in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.50.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.