Jade Capital Advisors LLC Buys New Shares in Ingevity Co. (NYSE:NGVT)

Jade Capital Advisors LLC purchased a new position in shares of Ingevity Co. (NYSE:NGVT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the company’s stock, valued at approximately $1,170,000. Jade Capital Advisors LLC owned about 0.08% of Ingevity as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGVT. Mesirow Institutional Investment Management Inc. bought a new stake in Ingevity in the 2nd quarter worth approximately $11,416,000. Millennium Management LLC lifted its holdings in shares of Ingevity by 46.9% in the 2nd quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock worth $22,054,000 after acquiring an additional 161,014 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ingevity by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after purchasing an additional 153,530 shares in the last quarter. Burney Co. grew its holdings in shares of Ingevity by 2,449.8% during the 1st quarter. Burney Co. now owns 112,268 shares of the company’s stock valued at $5,355,000 after purchasing an additional 107,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Ingevity by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after purchasing an additional 88,026 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Performance

Shares of NGVT stock opened at $33.80 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. The stock has a fifty day moving average of $36.91 and a 200 day moving average of $43.00. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -10.87 and a beta of 1.62. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29.

Ingevity (NYSE:NGVT) last announced 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). The business had revenue of $390.60 million for the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. As a group, research analysts expect that Ingevity Co. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on NGVT shares. BMO Capital Markets cut their price target on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company dropped their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer lowered their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.