Hudson Edge Investment Partners Inc. Increases Stake in Ingevity Co. (NYSE:NGVT)

Hudson Edge Investment Partners Inc. grew its stake in shares of Ingevity Co. (NYSE:NGVT) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,150 shares of the company’s stock after buying an additional 750 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Ingevity were worth $658,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vestcor Inc purchased a new position in shares of Ingevity during the third quarter valued at about $796,000. Geode Capital Management LLC boosted its position in Ingevity by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after acquiring an additional 33,973 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after acquiring an additional 23,460 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Ingevity in the 4th quarter worth approximately $239,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Ingevity in the 4th quarter worth approximately $530,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Ingevity from $61.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.67.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $46.11 on Friday. The stock has a market cap of $1.68 billion, a PE ratio of -3.89 and a beta of 1.64. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The firm has a fifty day moving average price of $43.33 and a 200-day moving average price of $41.09. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating 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 business had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Equities analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

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.