Wellington Management Group LLP Buys 115,581 Shares of Ingevity Co. (NYSE:NGVT)

Wellington Management Group LLP boosted its stake in shares of Ingevity Co. (NYSE:NGVT) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,239,970 shares of the company’s stock after buying an additional 115,581 shares during the period. Wellington Management Group LLP owned approximately 6.16% of Ingevity worth $91,279,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NGVT. Charles Schwab Investment Management Inc. raised its stake 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. BNP Paribas Financial Markets grew its holdings in Ingevity by 26.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,528 shares of the company’s stock valued at $840,000 after purchasing an additional 4,459 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Ingevity in the 3rd quarter worth about $288,000. State Street Corp lifted its stake in Ingevity by 14.7% in the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after purchasing an additional 198,300 shares during the last quarter. Finally, Vision One Management Partners LP purchased a new position in shares of Ingevity during the third quarter valued at approximately $4,388,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Down 9.5 %

Shares of NYSE:NGVT opened at $31.37 on Friday. 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 business’s 50 day moving average is $44.11 and its 200 day moving average is $42.51. The stock has a market cap of $1.14 billion, a P/E ratio of -2.65 and a beta of 1.52. Ingevity Co. has a 52-week low of $30.13 and a 52-week high of $56.30.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $297.40 million. Sell-side analysts predict that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

NGVT has been the topic of several recent analyst reports. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ingevity has an average rating of “Moderate Buy” and a consensus price target 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.