Segall Bryant & Hamill LLC Boosts Position in Ingevity Co. (NYSE:NGVT)

Segall Bryant & Hamill LLC boosted its holdings in Ingevity Co. (NYSE:NGVT) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,287,281 shares of the company’s stock after purchasing an additional 101,866 shares during the quarter. Ingevity comprises approximately 0.7% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 18th biggest position. Segall Bryant & Hamill LLC’s holdings in Ingevity were worth $52,457,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Walnut Level Capital LLC purchased a new stake in shares of Ingevity during the 4th quarter worth approximately $1,630,000. KLP Kapitalforvaltning AS purchased a new stake in Ingevity in the fourth quarter valued at $4,882,000. Sei Investments Co. boosted its stake in Ingevity by 23.4% in the fourth quarter. Sei Investments Co. now owns 235,854 shares of the company’s stock valued at $9,611,000 after acquiring an additional 44,782 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Ingevity during the fourth quarter worth about $237,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NGVT. StockNews.com cut Ingevity from a “buy” rating to a “hold” rating in a research report on Monday. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Stock Up 2.1 %

Ingevity stock opened at $43.26 on Tuesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.65 and a beta of 1.53. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock has a 50 day moving average of $45.36 and a two-hundred day moving average of $42.39. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.30.

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

About Ingevity

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.