Ingevity Co. (NYSE:NGVT) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Ingevity Co. (NYSE:NGVT) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,698 shares of the company’s stock after buying an additional 32,966 shares during the period. Pictet Asset Management Holding SA owned 0.79% of Ingevity worth $11,642,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NGVT. KBC Group NV grew its holdings in Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after buying an additional 433 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Ingevity in the fourth quarter worth $187,000. Teacher Retirement System of Texas bought a new position in shares of Ingevity in the fourth quarter worth $237,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Ingevity during the fourth quarter valued at about $239,000. Finally, XTX Topco Ltd bought a new stake in shares of Ingevity during the 3rd quarter worth about $260,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $39.63 on Thursday. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.30. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.35 and a beta of 1.52. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The stock’s fifty day simple moving average is $44.68 and its 200 day simple moving average is $42.61.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. As a group, sell-side analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NGVT. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and raised their target price for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ingevity currently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

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.