KLP Kapitalforvaltning AS Takes Position in Ingevity Co. (NYSE:NGVT)

KLP Kapitalforvaltning AS acquired a new position in Ingevity Co. (NYSE:NGVT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 119,800 shares of the company’s stock, valued at approximately $4,882,000. KLP Kapitalforvaltning AS owned about 0.33% of Ingevity at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its position in shares of Ingevity by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 27,908 shares of the company’s stock valued at $1,088,000 after acquiring an additional 1,751 shares during the period. First Horizon Advisors Inc. grew its holdings in Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the period. Intech Investment Management LLC purchased a new stake in Ingevity in the third quarter worth about $371,000. 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 worth $23,697,000 after buying an additional 50,692 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Ingevity during the 3rd quarter valued at approximately $918,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $43.00 on Wednesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -3.63 and a beta of 1.53. The firm has a fifty day moving average price of $45.41 and a 200 day moving average price of $42.44. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.30. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

Ingevity (NYSE:NGVT) last issued 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 during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. As a group, sell-side analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NGVT. 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 note on Wednesday, February 26th. StockNews.com downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Ingevity currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

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.