Keeley Teton Advisors LLC Invests $1.44 Million in Ingevity Co. (NYSE:NGVT)

Keeley Teton Advisors LLC acquired a new stake in shares of Ingevity Co. (NYSE:NGVT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 35,396 shares of the company’s stock, valued at approximately $1,442,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NGVT. KBC Group NV increased its stake in shares of Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after purchasing an additional 433 shares in the last quarter. Arizona State Retirement System raised its holdings in Ingevity by 6.1% during the fourth quarter. Arizona State Retirement System now owns 10,550 shares of the company’s stock valued at $430,000 after acquiring an additional 611 shares during the period. Johnson Investment Counsel Inc. lifted its position in shares of Ingevity by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company’s stock valued at $307,000 after acquiring an additional 628 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in shares of Ingevity by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company’s stock worth $658,000 after acquiring an additional 750 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Ingevity by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company’s stock worth $493,000 after purchasing an additional 765 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NGVT shares. Wells Fargo & Company dropped their price target on Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Finally, StockNews.com cut shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

Ingevity Price Performance

Ingevity stock opened at $31.88 on Wednesday. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $56.30. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -2.69 and a beta of 1.54. The firm’s fifty day moving average is $41.70 and its 200 day moving average is $41.99. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Sell-side analysts forecast that Ingevity Co. will post 4.45 EPS for the current fiscal year.

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.