Ingevity Co. (NYSE:NGVT) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC decreased its position in Ingevity Co. (NYSE:NGVT) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,831 shares of the company’s stock after selling 5,161 shares during the quarter. Isthmus Partners LLC’s holdings in Ingevity were worth $2,918,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Ingevity by 2.4% in the 3rd quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock worth $416,000 after acquiring an additional 246 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Ingevity by 45.9% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after acquiring an additional 279 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Ingevity by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after acquiring an additional 300 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Ingevity by 1.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company’s stock worth $1,004,000 after acquiring an additional 313 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Up 0.5 %

Shares of Ingevity stock opened at $47.73 on Friday. The business’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $41.93. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The company has a market capitalization of $1.73 billion, a P/E ratio of -3.07 and a beta of 1.60. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. The firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. As a group, research analysts forecast that Ingevity Co. will post 2.55 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on NGVT. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, August 7th. Oppenheimer cut their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. BMO Capital Markets raised their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

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.