Schechter Investment Advisors LLC Has $1.22 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Schechter Investment Advisors LLC raised its position in shares of Ingevity Co. (NYSE:NGVT) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,876 shares of the company’s stock after purchasing an additional 3,271 shares during the period. Schechter Investment Advisors LLC owned approximately 0.08% of Ingevity worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares in the last quarter. KBC Group NV raised its position in Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Ingevity by 27.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after buying an additional 831 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ingevity during the fourth quarter worth $187,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Ingevity during the fourth quarter worth $239,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Performance

Shares of Ingevity stock opened at $45.25 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -3.82 and a beta of 1.64. The company’s fifty day moving average is $43.86 and its 200 day moving average is $41.61.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Sell-side analysts forecast that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.