D. E. Shaw & Co. Inc. Has $52.60 Million Stake in Ingevity Co. (NYSE:NGVT)

D. E. Shaw & Co. Inc. increased its holdings in shares of Ingevity Co. (NYSE:NGVT) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 696,411 shares of the company’s stock after acquiring an additional 74,702 shares during the period. D. E. Shaw & Co. Inc. owned about 1.74% of Ingevity worth $52,600,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Boston Partners boosted its position in shares of Ingevity by 7.1% during the 1st quarter. Boston Partners now owns 2,288,860 shares of the company’s stock valued at $172,750,000 after acquiring an additional 151,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ingevity by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 708,951 shares of the company’s stock valued at $53,551,000 after acquiring an additional 23,426 shares in the last quarter. Royal Bank of Canada boosted its position in Ingevity by 2.4% in the first quarter. Royal Bank of Canada now owns 683,132 shares of the company’s stock valued at $51,596,000 after buying an additional 16,240 shares in the last quarter. Inclusive Capital Partners L.P. boosted its position in Ingevity by 48.4% in the first quarter. Inclusive Capital Partners L.P. now owns 676,743 shares of the company’s stock valued at $51,114,000 after buying an additional 220,733 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ingevity by 6.5% in the first quarter. Geode Capital Management LLC now owns 653,887 shares of the company’s stock valued at $49,388,000 after buying an additional 40,069 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

Shares of NYSE NGVT opened at $78.41 on Thursday. Ingevity Co. has a 1-year low of $47.11 and a 1-year high of $89.55. The company has a market capitalization of $3.14 billion, a P/E ratio of 17.01 and a beta of 2.22. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.95 and a current ratio of 2.86. The business has a 50-day moving average of $82.53.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, April 28th. The company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.24. Ingevity had a net margin of 15.19% and a return on equity of 33.94%. The company had revenue of $320.30 million during the quarter, compared to the consensus estimate of $293.05 million. During the same period in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that Ingevity Co. will post 5.32 earnings per share for the current year.

NGVT has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Ingevity from a “c+” rating to a “b” rating in a research report on Thursday, May 27th. Loop Capital boosted their price target on shares of Ingevity from $71.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, May 27th. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Friday, July 2nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $112.00 price target on shares of Ingevity in a research report on Friday, July 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $82.00.

In related news, EVP Stuart Edward Jr. Woodcock sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $85.76, for a total transaction of $444,065.28. Following the completion of the sale, the executive vice president now directly owns 30,516 shares of the company’s stock, valued at $2,617,052.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia-Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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