D. E. Shaw & Co. Inc. Buys 74,702 Shares of Ingevity Co. (NYSE:NGVT)

D. E. Shaw & Co. Inc. increased its holdings in shares of Ingevity Co. (NYSE:NGVT) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 696,411 shares of the company’s stock after acquiring an additional 74,702 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Ingevity were worth $52,600,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Ingevity during the fourth quarter worth about $39,388,000. Geode Capital Management LLC increased its position in Ingevity by 6.5% during the first quarter. Geode Capital Management LLC now owns 653,887 shares of the company’s stock worth $49,388,000 after acquiring an additional 40,069 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Ingevity during the first quarter worth about $257,000. WCM Investment Management LLC grew its stake in Ingevity by 0.3% during the fourth quarter. WCM Investment Management LLC now owns 141,702 shares of the company’s stock worth $10,731,000 after buying an additional 476 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Ingevity by 9.8% during the first quarter. Federated Hermes Inc. now owns 16,934 shares of the company’s stock worth $1,279,000 after buying an additional 1,510 shares in the last quarter. 90.58% of the stock is currently owned by institutional investors and hedge funds.

NGVT opened at $78.41 on Thursday. The firm has a 50 day moving average of $82.53. Ingevity Co. has a 1-year low of $47.11 and a 1-year high of $89.55. The company has a current ratio of 2.86, a quick ratio of 1.95 and a debt-to-equity ratio of 1.91. The firm has a market cap of $3.14 billion, a P/E ratio of 17.01 and a beta of 2.22.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, April 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.24. The business had revenue of $320.30 million during the quarter, compared to analyst estimates of $293.05 million. Ingevity had a net margin of 15.19% and a return on equity of 33.94%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. On average, equities analysts predict that Ingevity Co. will post 5.32 earnings per share for the current fiscal year.

In related news, EVP Stuart Edward Jr. Woodcock sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $85.76, for a total value of $444,065.28. Following the completion of the transaction, the executive vice president now owns 30,516 shares in the company, valued at approximately $2,617,052.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on NGVT shares. BMO Capital Markets reiterated a “buy” rating and set a $112.00 price objective on shares of Ingevity in a research note on Friday, July 9th. Loop Capital increased their price objective on shares of Ingevity from $71.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, May 27th. Zacks Investment Research downgraded shares of Ingevity from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Friday, July 2nd. Finally, TheStreet upgraded shares of Ingevity from a “c+” rating to a “b” rating in a research note on Thursday, May 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.00.

About Ingevity

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. The company 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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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