Catalytic Wealth RIA LLC Acquires 474 Shares of Ingevity Co. (NYSE:NGVT)

Catalytic Wealth RIA LLC grew its holdings in shares of Ingevity Co. (NYSE:NGVT) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,040 shares of the company’s stock after acquiring an additional 474 shares during the period. Catalytic Wealth RIA LLC’s holdings in Ingevity were worth $240,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NGVT. Vanguard Group Inc. raised its stake in Ingevity by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock worth $182,143,000 after buying an additional 75,198 shares during the last quarter. Wellington Management Group LLP raised its stake in Ingevity by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after buying an additional 80,856 shares during the last quarter. Victory Capital Management Inc. raised its stake in Ingevity by 57.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after buying an additional 677,718 shares during the last quarter. Brown Advisory Inc. grew its holdings in Ingevity by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after purchasing an additional 52,187 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ingevity by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock worth $22,853,000 after purchasing an additional 44,910 shares during the period. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Loop Capital raised their price target on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. Wells Fargo & Company reduced their price target on shares of Ingevity from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. BMO Capital Markets lifted their price objective on shares of Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Finally, Oppenheimer lifted their price objective on shares of Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Ingevity has an average rating of “Hold” and an average target price of $54.17.

Ingevity Stock Up 1.6 %

Shares of NGVT traded up $0.71 during trading hours on Monday, reaching $45.15. 150,956 shares of the stock traded hands, compared to its average volume of 229,660. The stock has a fifty day simple moving average of $46.26 and a 200 day simple moving average of $46.31. Ingevity Co. has a 52 week low of $36.66 and a 52 week high of $66.18. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -14.52 and a beta of 1.66.

Ingevity (NYSE:NGVT) last issued 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. The company had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. Ingevity’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, equities analysts forecast that Ingevity Co. will post 3.63 EPS for the current year.

About Ingevity

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.