Trillium Asset Management LLC Boosts Stake in Ingevity Co. (NYSE:NGVT)

Trillium Asset Management LLC lifted its holdings in shares of Ingevity Co. (NYSE:NGVT) by 51.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 114,925 shares of the company’s stock after acquiring an additional 38,896 shares during the quarter. Trillium Asset Management LLC owned 0.32% of Ingevity worth $4,684,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV lifted its position in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Empowered Funds LLC acquired a new position in Ingevity in the fourth quarter worth about $187,000. Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity in the fourth quarter valued at about $239,000. Finally, XTX Topco Ltd bought a new stake in Ingevity in the third quarter valued at about $260,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Up 0.8 %

Shares of NYSE NGVT opened at $44.25 on Thursday. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.30. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -3.74 and a beta of 1.53. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock’s 50 day simple moving average is $45.09 and its 200 day simple moving average is $42.25.

Ingevity (NYSE:NGVT) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. The company had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Equities research analysts expect that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

NGVT has been the subject of several research reports. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.17.

Ingevity 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.