Segall Bryant & Hamill LLC Has $46.23 Million Stake in Ingevity Co. (NYSE:NGVT)

Segall Bryant & Hamill LLC increased its stake in Ingevity Co. (NYSE:NGVT) by 33.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,185,415 shares of the company’s stock after purchasing an additional 297,135 shares during the period. Segall Bryant & Hamill LLC owned approximately 3.26% of Ingevity worth $46,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares during the last quarter. Isthmus Partners LLC acquired a new stake in shares of Ingevity in the second quarter valued at approximately $35,000. Blue Trust Inc. boosted its stake in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares during the period. Headlands Technologies LLC acquired a new position in shares of Ingevity during the 2nd quarter worth approximately $46,000. Finally, KBC Group NV raised its stake in Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after acquiring an additional 530 shares during the period. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NGVT shares. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company cut their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Oppenheimer reduced their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, BMO Capital Markets lifted their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Ingevity has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Stock Performance

Shares of Ingevity stock opened at $45.96 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company has a market cap of $1.67 billion, a PE ratio of -2.96 and a beta of 1.60. The company has a 50 day moving average of $38.84 and a 200-day moving average of $42.05. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.50. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 earnings per share. As a group, equities research analysts forecast that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

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.