LSV Asset Management Trims Position in Ingevity Co. (NYSE:NGVT)

LSV Asset Management reduced its position in Ingevity Co. (NYSE:NGVT) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,279,811 shares of the company’s stock after selling 119,294 shares during the period. LSV Asset Management owned about 3.53% of Ingevity worth $60,433,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Ingevity in the fourth quarter valued at $41,000. Mackenzie Financial Corp acquired a new stake in shares of Ingevity in the fourth quarter worth approximately $208,000. Pathstone Family Office LLC grew its holdings in Ingevity by 22.1% in the third quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after purchasing an additional 803 shares during the period. Dakota Wealth Management increased its position in Ingevity by 36.7% during the third quarter. Dakota Wealth Management now owns 5,301 shares of the company’s stock worth $252,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Ingevity by 20.5% during the third quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $308,000 after purchasing an additional 1,101 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group raised shares of 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 note on Monday, April 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.50.

Ingevity Stock Down 2.3 %

Shares of NGVT traded down $1.24 during midday trading on Friday, hitting $53.56. The company had a trading volume of 374,454 shares, compared to its average volume of 221,028. The company’s 50 day moving average price is $46.99 and its 200 day moving average price is $44.17. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -17.22 and a beta of 1.79. Ingevity Co. has a 52 week low of $36.66 and a 52 week high of $68.11. The company has a quick ratio of 0.96, a current ratio of 1.90 and a debt-to-equity ratio of 2.48.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. The company had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities research analysts predict that Ingevity Co. will post 3.78 EPS for the current year.

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.