Ingevity Co. (NYSE:NGVT) Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in shares of Ingevity Co. (NYSE:NGVT) by 13.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 285,698 shares of the company’s stock after buying an additional 32,966 shares during the period. Pictet Asset Management Holding SA’s holdings in Ingevity were worth $11,642,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NGVT. KBC Group NV increased its holdings in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after purchasing an additional 433 shares during the period. Empowered Funds LLC acquired a new position in Ingevity in the 4th quarter valued at approximately $187,000. Teacher Retirement System of Texas purchased a new stake in Ingevity in the 4th quarter worth approximately $237,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingevity during the 4th quarter valued at $239,000. Finally, XTX Topco Ltd purchased a new position in shares of Ingevity during the 3rd quarter valued at $260,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

NYSE NGVT opened at $39.63 on Thursday. The firm has a market cap of $1.44 billion, a P/E ratio of -3.35 and a beta of 1.52. The stock’s 50-day moving average is $44.68 and its two-hundred day moving average is $42.61. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com lowered Ingevity from a “buy” rating to a “hold” rating in a report on Monday, March 24th. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ingevity currently has an average rating of “Moderate Buy” and an average price target of $55.17.

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.