BNP Paribas Arbitrage SA Has $3.64 Million Holdings in Ingevity Corporation (NGVT)

BNP Paribas Arbitrage SA raised its stake in Ingevity Corporation (NYSE:NGVT) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,201 shares of the company’s stock after buying an additional 8,646 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ingevity Corporation were worth $3,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NGVT. Pacad Investment Ltd. bought a new stake in shares of Ingevity Corporation in the 2nd quarter valued at about $183,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ingevity Corporation in the 2nd quarter valued at about $203,000. Balyasny Asset Management LLC bought a new stake in shares of Ingevity Corporation in the 2nd quarter valued at about $213,000. Flagship Harbor Advisors LLC bought a new stake in shares of Ingevity Corporation in the 3rd quarter valued at about $216,000. Finally, Breton Hill Capital Ltd. bought a new stake in shares of Ingevity Corporation in the 2nd quarter valued at about $234,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.

Shares of Ingevity Corporation (NYSE NGVT) opened at $73.32 on Monday. Ingevity Corporation has a 52-week low of $48.74 and a 52-week high of $76.00. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36. The company has a market capitalization of $3,087.91, a PE ratio of 29.68, a P/E/G ratio of 2.45 and a beta of 1.66.

Ingevity Corporation (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Ingevity Corporation had a return on equity of 58.14% and a net margin of 9.86%. The business had revenue of $264.10 million for the quarter, compared to the consensus estimate of $260.88 million. During the same period in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. research analysts forecast that Ingevity Corporation will post 2.49 earnings per share for the current year.

Several equities research analysts recently commented on NGVT shares. BidaskClub lowered Ingevity Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Loop Capital restated a “buy” rating and set a $80.00 target price on shares of Ingevity Corporation in a research report on Tuesday, November 14th. Jefferies Group LLC upped their target price on Ingevity Corporation from $71.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. KeyCorp restated a “buy” rating and set a $70.00 target price on shares of Ingevity Corporation in a research report on Friday, September 8th. Finally, Zacks Investment Research lowered Ingevity Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Seven research analysts have rated the stock with a buy rating, Ingevity Corporation presently has an average rating of “Buy” and an average price target of $73.17.

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Ingevity Corporation Company Profile

Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.

Institutional Ownership by Quarter for Ingevity Corporation (NYSE:NGVT)

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