Bank of New York Mellon Corp Trims Holdings in Ingevity Co. (NYSE:NGVT)

Bank of New York Mellon Corp lowered its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,223 shares of the company's stock after selling 37,766 shares during the period. Bank of New York Mellon Corp owned 0.61% of Ingevity worth $9,015,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NGVT. First Horizon Advisors Inc. boosted its holdings in shares of Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock valued at $34,000 after buying an additional 271 shares in the last quarter. KBC Group NV boosted its holdings in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company's stock valued at $61,000 after buying an additional 530 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Ingevity during the 4th quarter valued at $187,000. Aigen Investment Management LP bought a new stake in shares of Ingevity during the 3rd quarter valued at $231,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Ingevity during the 4th quarter valued at $239,000. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 0.7 %

Ingevity stock traded down $0.31 during mid-day trading on Tuesday, reaching $43.92. The stock had a trading volume of 186,766 shares, compared to its average volume of 244,248. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The company has a 50-day moving average price of $44.85 and a two-hundred day moving average price of $42.21. 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 market capitalization of $1.60 billion, a price-to-earnings ratio of -3.71 and a beta of 1.53.

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Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.66. The business 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, analysts expect that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Ingevity from a "hold" rating to a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.17.

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.