Connor Clark & Lunn Investment Management Ltd. Has $1.01 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Ingevity Co. (NYSE:NGVT) by 64.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,788 shares of the company’s stock after selling 47,039 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ingevity were worth $1,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after buying an additional 526 shares during the period. Blue Trust Inc. boosted its holdings in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after buying an additional 452 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Ingevity during the second quarter worth approximately $46,000. KBC Group NV boosted its holdings in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Ingevity during the third quarter worth approximately $113,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NGVT shares. Oppenheimer decreased their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a 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 report on Wednesday, August 7th. Wells Fargo & Company decreased their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, BMO Capital Markets raised their price target 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Price Performance

Shares of NGVT opened at $47.73 on Thursday. The firm has a market cap of $1.73 billion, a PE ratio of -3.06 and a beta of 1.60. The firm’s 50 day moving average price is $39.98 and its 200 day moving average price is $41.85. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data 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 analyst estimates 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 revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, research analysts expect that Ingevity Co. will post 2.55 EPS for the current fiscal 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.