American Century Companies Inc. Buys 398,800 Shares of Ingevity Co. (NYSE:NGVT)

American Century Companies Inc. grew its stake in Ingevity Co. (NYSE:NGVT) by 37.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,457,365 shares of the company’s stock after acquiring an additional 398,800 shares during the period. American Century Companies Inc.’s holdings in Ingevity were worth $59,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC lifted its holdings in Ingevity by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 27,908 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,751 shares during the last quarter. First Horizon Advisors Inc. increased its position in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after buying an additional 271 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Ingevity during the third quarter worth $371,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ingevity by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 607,628 shares of the company’s stock valued at $23,697,000 after acquiring an additional 50,692 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ingevity in the third quarter valued at about $918,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Price Performance

NGVT stock opened at $43.00 on Wednesday. The company’s 50-day moving average price is $45.41 and its two-hundred day moving average price is $42.44. The firm has a market cap of $1.56 billion, a P/E ratio of -3.63 and a beta of 1.53. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.30.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. On average, analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on NGVT. StockNews.com cut shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

Ingevity Company 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.