EVR Research LP Reduces Stock Holdings in Ingevity Co. (NYSE:NGVT)

EVR Research LP trimmed its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,000 shares of the company's stock after selling 135,000 shares during the quarter. Ingevity accounts for approximately 3.8% of EVR Research LP's holdings, making the stock its 11th biggest holding. EVR Research LP owned approximately 0.77% of Ingevity worth $11,410,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vestcor Inc purchased a new stake in Ingevity in the 3rd quarter worth about $796,000. Geode Capital Management LLC raised its holdings in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock worth $31,817,000 after buying an additional 33,973 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock worth $4,586,000 after acquiring an additional 23,460 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Ingevity during the 4th quarter valued at $239,000. Finally, Proficio Capital Partners LLC bought a new position in Ingevity in the 4th quarter valued at $863,000. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 2.1 %

Ingevity stock traded down $0.68 during mid-day trading on Wednesday, reaching $31.11. 183,845 shares of the company were exchanged, compared to its average volume of 255,792. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $56.29. The business has a fifty day moving average of $41.70 and a 200 day moving average of $41.99. The firm has a market cap of $1.13 billion, a P/E ratio of -2.63 and a beta of 1.54. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

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Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share 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 the consensus estimate of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Research analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on NGVT. 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 report on Wednesday, February 26th. StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Wells Fargo & Company decreased their price target on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.83.

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.