LSV Asset Management Sells 119,294 Shares of Ingevity Co. (NYSE:NGVT)

LSV Asset Management lessened its stake in Ingevity Co. (NYSE:NGVT) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,279,811 shares of the company’s stock after selling 119,294 shares during the period. LSV Asset Management’s holdings in Ingevity were worth $60,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dakota Wealth Management increased its stake in shares of Ingevity by 36.7% in the 3rd quarter. Dakota Wealth Management now owns 5,301 shares of the company’s stock worth $252,000 after acquiring an additional 1,422 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Ingevity by 1.1% in the 3rd quarter. Raymond James & Associates now owns 46,519 shares of the company’s stock valued at $2,215,000 after buying an additional 516 shares during the period. Brown Advisory Inc. lifted its stake in Ingevity by 2.8% during the third quarter. Brown Advisory Inc. now owns 741,755 shares of the company’s stock worth $35,315,000 after purchasing an additional 20,376 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ingevity by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,733 shares of the company’s stock valued at $368,000 after acquiring an additional 1,061 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Ingevity by 20.5% in the third quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock valued at $308,000 after acquiring an additional 1,101 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

NGVT has been the subject of several research analyst reports. Oppenheimer increased their price objective on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.50.

Ingevity Stock Performance

NYSE:NGVT traded down $1.24 during mid-day trading on Friday, hitting $53.56. 374,454 shares of the company’s stock traded hands, compared to its average volume of 221,028. The firm has a 50 day moving average of $46.99 and a two-hundred day moving average of $44.17. The company has a current ratio of 1.90, a quick ratio of 0.96 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -17.22 and a beta of 1.79. Ingevity Co. has a 12 month low of $36.66 and a 12 month high of $68.11.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The business had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. Ingevity’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities analysts forecast that Ingevity Co. will post 3.78 earnings per share for the current fiscal year.

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.