Hotchkis & Wiley Capital Management LLC Lowers Position in Ingevity Co. (NYSE:NGVT)

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 6.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,230 shares of the company's stock after selling 15,680 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.65% of Ingevity worth $9,174,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NGVT. Segall Bryant & Hamill LLC raised its stake in Ingevity by 33.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock valued at $46,231,000 after buying an additional 297,135 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Ingevity in the 2nd quarter worth about $11,416,000. Harvey Partners LLC bought a new position in Ingevity in the 3rd quarter worth about $7,878,000. Royce & Associates LP grew its position in Ingevity by 23.3% during the 3rd quarter. Royce & Associates LP now owns 933,677 shares of the company's stock valued at $36,413,000 after purchasing an additional 176,447 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Ingevity by 46.9% during the 2nd quarter. Millennium Management LLC now owns 504,552 shares of the company's stock valued at $22,054,000 after purchasing an additional 161,014 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Down 3.2 %

Ingevity stock traded down $1.51 during midday trading on Thursday, reaching $46.02. 163,001 shares of the company traded hands, compared to its average volume of 265,823. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.29. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The business has a 50 day moving average of $40.99 and a two-hundred day moving average of $41.67.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.50. The firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company's revenue for the quarter was down 15.5% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Analysts anticipate that Ingevity Co. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NGVT shares. BMO Capital Markets upped their target price on shares of Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st. CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.17.

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.