Algert Global LLC Sells 14,929 Shares of Ingevity Co. (NYSE:NGVT)

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

A number of other hedge funds have also recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Ingevity in the first quarter worth $3,372,000. American Century Companies Inc. grew its position in shares of Ingevity by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company's stock valued at $33,464,000 after buying an additional 53,839 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Ingevity in the second quarter valued at about $748,000. ClariVest Asset Management LLC acquired a new stake in shares of Ingevity in the second quarter valued at about $3,550,000. Finally, Jade Capital Advisors LLC bought a new position in shares of Ingevity during the third quarter worth about $1,170,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on NGVT. Oppenheimer decreased their target price on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Finally, CJS Securities raised shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of "Moderate Buy" and an average target price of $52.17.

Ingevity Trading Up 0.5 %

Shares of NYSE:NGVT traded up $0.22 during mid-day trading on Thursday, hitting $47.73. The company had a trading volume of 181,636 shares, compared to its average volume of 267,883. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The firm has a fifty day moving average price of $40.15 and a 200 day moving average price of $41.89. The company has a market capitalization of $1.73 billion, a PE ratio of -3.07 and a beta of 1.60.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly 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 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 business's revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts forecast that Ingevity Co. will post 2.55 EPS for the current 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.