Dynamic Technology Lab Private Ltd Buys New Shares in Ingevity Co. (NYSE:NGVT)

Dynamic Technology Lab Private Ltd purchased a new position in Ingevity Co. (NYSE:NGVT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,530 shares of the company’s stock, valued at approximately $918,000. Dynamic Technology Lab Private Ltd owned 0.06% of Ingevity at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares during the period. Isthmus Partners LLC bought a new position in shares of Ingevity in the second quarter valued at $35,000. Blue Trust Inc. grew its holdings in shares of Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ingevity during the second quarter worth about $46,000. Finally, KBC Group NV raised its holdings in shares of Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after acquiring an additional 530 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Trading Up 0.5 %

Shares of Ingevity stock opened at $47.73 on Thursday. The firm has a market cap of $1.73 billion, a PE ratio of -3.07 and a beta of 1.60. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a fifty day moving average price of $39.98 and a 200-day moving average price of $41.85.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. Equities research analysts anticipate that Ingevity Co. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets boosted their price objective on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Oppenheimer lowered their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.17.

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.