Leeward Investments LLC MA Reduces Stock Holdings in Ingevity Co. (NYSE:NGVT)

Leeward Investments LLC MA lessened its stake in shares of Ingevity Co. (NYSE:NGVT) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,447 shares of the company’s stock after selling 11,739 shares during the quarter. Leeward Investments LLC MA’s holdings in Ingevity were worth $13,432,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in Ingevity during the fourth quarter worth about $41,000. New York State Common Retirement Fund boosted its stake in Ingevity by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 184,783 shares of the company’s stock worth $8,725,000 after buying an additional 5,771 shares during the period. Wedge Capital Management L L P NC boosted its stake in Ingevity by 28.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 137,106 shares of the company’s stock worth $6,474,000 after buying an additional 30,201 shares during the period. Jennison Associates LLC boosted its stake in Ingevity by 1.3% during the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock worth $925,000 after buying an additional 249 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Ingevity in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 1.3 %

Shares of NYSE:NGVT opened at $48.51 on Friday. The firm’s 50 day moving average price is $46.44 and its 200 day moving average price is $43.77. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -220.50 and a beta of 1.85. Ingevity Co. has a fifty-two week low of $36.66 and a fifty-two week high of $72.76. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 2.19.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company had revenue of $371.70 million for the quarter, compared to analysts’ expectations of $336.74 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts predict that Ingevity Co. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NGVT. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a research note on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.40.

Ingevity Company 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.