Ingevity Co. (NYSE:NGVT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 71.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,350 shares of the company's stock after selling 27,773 shares during the period. Bank of Montreal Can's holdings in Ingevity were worth $463,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. KBC Group NV grew its holdings in Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after purchasing an additional 433 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Ingevity during the 4th quarter valued at approximately $187,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ingevity during the fourth quarter worth approximately $214,000. Teacher Retirement System of Texas bought a new stake in shares of Ingevity in the fourth quarter worth $237,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Ingevity in the fourth quarter valued at $239,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Stock Performance

Shares of NYSE:NGVT traded up $0.21 during trading on Wednesday, reaching $31.88. 194,634 shares of the company's stock traded hands, compared to its average volume of 275,025. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The company has a 50 day moving average of $40.40 and a 200-day moving average of $41.80. Ingevity Co. has a 12 month low of $28.49 and a 12 month high of $56.30. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.69 and a beta of 1.54.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. The company had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, equities analysts expect that Ingevity Co. will post 4.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, StockNews.com cut Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ingevity currently has an average rating of "Moderate Buy" and an average target price of $52.20.

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.