Jane Street Group LLC Purchases Shares of 3,226 Ingevity Corp (NGVT)

Jane Street Group LLC purchased a new position in shares of Ingevity Corp (NYSE:NGVT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,226 shares of the company’s stock, valued at approximately $261,000.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Ingevity by 7.8% during the 2nd quarter. BlackRock Inc. now owns 5,985,960 shares of the company’s stock worth $484,025,000 after acquiring an additional 431,313 shares in the last quarter. FMR LLC boosted its stake in shares of Ingevity by 240.1% during the 2nd quarter. FMR LLC now owns 866,464 shares of the company’s stock worth $70,062,000 after acquiring an additional 611,676 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Ingevity by 30.5% during the 2nd quarter. Federated Investors Inc. PA now owns 554,127 shares of the company’s stock worth $44,807,000 after acquiring an additional 129,617 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Ingevity by 12.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 469,269 shares of the company’s stock worth $37,944,000 after acquiring an additional 51,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ingevity by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 464,076 shares of the company’s stock worth $34,198,000 after acquiring an additional 40,915 shares in the last quarter. 92.04% of the stock is currently owned by institutional investors and hedge funds.

NGVT stock opened at $88.63 on Friday. Ingevity Corp has a 1 year low of $66.57 and a 1 year high of $106.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.48 and a current ratio of 2.58. The company has a market capitalization of $3.78 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.01 and a beta of 1.22.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. Ingevity had a return on equity of 46.65% and a net margin of 14.72%. The firm had revenue of $308.60 million for the quarter, compared to analyst estimates of $305.14 million. During the same quarter in the prior year, the company earned $0.78 EPS. Ingevity’s revenue was up 18.6% on a year-over-year basis. Analysts expect that Ingevity Corp will post 3.72 earnings per share for the current year.

Several equities research analysts have recently commented on NGVT shares. Loop Capital boosted their price target on Ingevity to $89.00 and gave the stock a “$90.05” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Berenberg Bank started coverage on Ingevity in a research note on Thursday, July 12th. They issued a “buy” rating and a $100.00 target price on the stock. SunTrust Banks upped their target price on Ingevity from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Jefferies Financial Group upped their target price on Ingevity to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, July 30th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.44.

Ingevity Company 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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