Congress Wealth Management LLC DE Sells 7,065 Shares of Ingevity Co. (NYSE:NGVT)

Congress Wealth Management LLC DE lowered its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,065 shares of the company's stock after selling 7,065 shares during the period. Congress Wealth Management LLC DE's holdings in Ingevity were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. KBC Group NV grew its position in shares of Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock worth $82,000 after buying an additional 433 shares during the period. Empowered Funds LLC acquired a new stake in Ingevity in the 4th quarter valued at $187,000. Teacher Retirement System of Texas bought a new stake in Ingevity during the 4th quarter valued at $237,000. Hennion & Walsh Asset Management Inc. acquired a new position in Ingevity during the fourth quarter worth $239,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ingevity in the third quarter worth approximately $260,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.17.

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Ingevity Stock Performance

Shares of NGVT traded down $4.89 during mid-day trading on Thursday, hitting $34.65. The stock had a trading volume of 314,846 shares, compared to its average volume of 268,275. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.30. 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 business has a fifty day moving average price of $44.42 and a 200-day moving average price of $42.55. The firm has a market cap of $1.26 billion, a P/E ratio of -2.93 and a beta of 1.52.

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

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.