American Century Companies Inc. Buys 197,862 Shares of Ingevity Co. (NYSE:NGVT)

American Century Companies Inc. raised its stake in Ingevity Co. (NYSE:NGVT – Free Report) by 594.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,150 shares of the company’s stock after acquiring an additional 197,862 shares during the quarter. American Century Companies Inc. owned about 0.64% of Ingevity worth $16,531,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NGVT. Howe & Rusling Inc. increased its stake in shares of Ingevity by 3.0% during the fourth quarter. Howe & Rusling Inc. now owns 4,363 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares during the period. Bank of Montreal Can lifted its holdings in shares of Ingevity by 3.8% during the first quarter. Bank of Montreal Can now owns 5,186 shares of the company’s stock worth $338,000 after buying an additional 188 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Ingevity by 2.0% in the fourth quarter. Arizona State Retirement System now owns 10,736 shares of the company’s stock valued at $756,000 after acquiring an additional 206 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Ingevity by 62.9% in the first quarter. Parkside Financial Bank & Trust now owns 694 shares of the company’s stock valued at $50,000 after acquiring an additional 268 shares in the last quarter. Finally, EMC Capital Management increased its position in Ingevity by 14.2% during the fourth quarter. EMC Capital Management now owns 2,320 shares of the company’s stock worth $163,000 after acquiring an additional 289 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Get Ingevity alerts:

Ingevity Price Performance

Ingevity stock opened at $54.65 on Friday. The stock has a fifty day moving average of $56.79 and a 200-day moving average of $63.26. The stock has a market capitalization of $1.98 billion, a P/E ratio of 11.60 and a beta of 1.85. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.21 and a current ratio of 2.46. Ingevity Co. has a 52 week low of $46.52 and a 52 week high of $90.81.

Ingevity (NYSE:NGVT – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. Ingevity had a return on equity of 27.94% and a net margin of 10.18%. The firm had revenue of $481.80 million during the quarter, compared to the consensus estimate of $486.43 million. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that Ingevity Co. will post 4.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on NGVT. BMO Capital Markets downgraded shares of Ingevity from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $71.00 to $60.00 in a report on Monday, August 7th. Wells Fargo & Company lowered their price objective on Ingevity from $66.00 to $55.00 in a research note on Tuesday, May 23rd. StockNews.com initiated coverage on Ingevity in a research report on Thursday, August 17th. They set a “hold” rating for the company. Loop Capital upgraded Ingevity from a “hold” rating to a “buy” rating and raised their price target for the stock from $64.00 to $75.00 in a research report on Thursday, July 27th. Finally, TheStreet downgraded shares of Ingevity from a “b-” rating to a “c” rating in a research note on Tuesday, May 30th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.33.

Check Out Our Latest Stock Report on NGVT

About Ingevity

(Free Report)

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

Recommended Stories

• Five stocks we like better than Ingevity
• How to Most Effectively Use the MarketBeat Earnings Screener
• 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
• Where to Find Earnings Call Transcripts
• Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
• How to Evaluate a Stock Before Buying 
• 5 Critical Takeaways From MongoDB’s Q2 Results for AI Investors

Receive News & Ratings for Ingevity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity and related companies with MarketBeat.com's FREE daily email newsletter.