81,207 Shares in Ingevity Co. (NYSE:NGVT) Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC purchased a new stake in Ingevity Co. (NYSE:NGVT) in the second quarter, HoldingsChannel.com reports. The firm purchased 81,207 shares of the company’s stock, valued at approximately $3,550,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after purchasing an additional 279 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Ingevity by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Ingevity by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock valued at $1,402,000 after buying an additional 388 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares during the period. Finally, Catalytic Wealth RIA LLC raised its stake in Ingevity by 10.4% in the 1st quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company’s stock worth $240,000 after acquiring an additional 474 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

NGVT opened at $32.91 on Wednesday. The stock has a market cap of $1.20 billion, a P/E ratio of -10.58 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The firm has a fifty day moving average price of $40.26 and a 200 day moving average price of $45.03. Ingevity Co. has a 1 year low of $32.90 and a 1 year high of $56.29.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same quarter last year, the business earned $1.41 earnings per share. Ingevity’s revenue was down 18.9% on a year-over-year basis. Equities research analysts anticipate that Ingevity Co. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.33.

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.