Oppenheimer Asset Management Inc. Purchases 2,031 Shares of Ingevity Co. (NYSE:NGVT)

Oppenheimer Asset Management Inc. increased its position in shares of Ingevity Co. (NYSE:NGVT) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,770 shares of the company’s stock after acquiring an additional 2,031 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ingevity were worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV grew its position in shares of 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 buying an additional 530 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Ingevity by 27.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock valued at $151,000 after buying an additional 831 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ingevity in the 4th quarter valued at about $187,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Ingevity in the 4th quarter valued at about $239,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Down 2.6 %

Shares of Ingevity stock opened at $44.06 on Wednesday. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock’s 50-day moving average is $43.95 and its 200 day moving average is $41.68. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -3.72 and a beta of 1.64.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Equities research analysts anticipate that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NGVT shares. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and upped their price target for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Profile

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.