Algert Global LLC Decreases Stock Holdings in Ingevity Co. (NYSE:NGVT)

Algert Global LLC cut its stake in Ingevity Co. (NYSE:NGVT) by 22.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,674 shares of the company’s stock after selling 14,929 shares during the period. Algert Global LLC owned approximately 0.14% of Ingevity worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares during the last quarter. Isthmus Partners LLC purchased a new stake in shares of Ingevity in the second quarter valued at about $35,000. Blue Trust Inc. increased its position in Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Headlands Technologies LLC purchased a new position in Ingevity during the second quarter worth about $46,000. Finally, KBC Group NV boosted its holdings in Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Up 0.5 %

Shares of NGVT opened at $47.73 on Thursday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The stock has a market capitalization of $1.73 billion, a PE ratio of -3.07 and a beta of 1.60. The company’s 50-day simple moving average is $39.98 and its 200-day simple moving average is $41.85. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on NGVT. Wells Fargo & Company reduced their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Oppenheimer decreased their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.