Jane Street Group LLC Takes $206,000 Position in Ingevity (NGVT)

Jane Street Group LLC acquired a new position in shares of Ingevity (NYSE:NGVT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,923 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ingevity by 50.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after purchasing an additional 807 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in Ingevity during the 4th quarter worth about $223,000. Miles Capital Inc. bought a new stake in Ingevity during the 4th quarter worth about $231,000. Keybank National Association OH bought a new stake in Ingevity during the 4th quarter worth about $237,000. Finally, Alambic Investment Management L.P. bought a new stake in Ingevity during the 4th quarter worth about $261,000. 92.40% of the stock is owned by hedge funds and other institutional investors.

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NGVT has been the subject of several recent research reports. Loop Capital dropped their price objective on Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 26th. Zacks Investment Research cut Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. KeyCorp reissued an “overweight” rating and set a $89.00 price objective (up from $78.00) on shares of Ingevity in a report on Friday, February 23rd. Jefferies Group boosted their price objective on Ingevity to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Finally, Buckingham Research raised Ingevity from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $92.00 in a report on Thursday, March 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.13.

Ingevity stock opened at $81.95 on Friday. The stock has a market cap of $3,437.54, a PE ratio of 31.76, a P/E/G ratio of 2.04 and a beta of 1.04. Ingevity has a 1 year low of $53.62 and a 1 year high of $82.23. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.41 and a quick ratio of 1.36.

Ingevity (NYSE:NGVT) last posted its earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The company had revenue of $229.50 million during the quarter, compared to analyst estimates of $214.94 million. Ingevity had a return on equity of 50.74% and a net margin of 12.99%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. equities analysts forecast that Ingevity will post 3.34 EPS for the current year.

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Ingevity Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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