Quest Partners LLC Purchases Shares of 7,949 Ingevity Co. (NYSE:NGVT)

Quest Partners LLC purchased a new position in shares of Ingevity Co. (NYSE:NGVT) during the fourth quarter, HoldingsChannel reports. The firm purchased 7,949 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. increased its position in Ingevity by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock valued at $37,490,000 after purchasing an additional 52,187 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Ingevity by 207.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after purchasing an additional 1,401 shares in the last quarter. Jump Financial LLC acquired a new stake in Ingevity during the fourth quarter worth approximately $690,000. Principal Securities Inc. bought a new stake in Ingevity in the fourth quarter worth approximately $67,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ingevity by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock valued at $22,853,000 after buying an additional 44,910 shares during the period. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Ingevity stock traded down $0.36 during mid-day trading on Friday, reaching $47.74. 254,040 shares of the company’s stock were exchanged, compared to its average volume of 241,489. The business’s fifty day simple moving average is $49.00 and its 200 day simple moving average is $45.38. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business had revenue of $340.10 million for the quarter, compared to the consensus estimate of $319.15 million. During the same quarter in the prior year, the business earned $1.09 earnings per share. Ingevity’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts predict that Ingevity Co. will post 3.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NGVT has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. BMO Capital Markets raised their price objective on Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Loop Capital upped their target price on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and boosted their price target for the company from $52.00 to $62.00 in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Ingevity has a consensus rating of “Hold” and a consensus price target of $55.00.

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.