Ingevity Co. (NYSE:NGVT) Holdings Cut by Burney Co.

Burney Co. lowered its holdings in Ingevity Co. (NYSE:NGVT - Free Report) by 91.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,495 shares of the company's stock after selling 114,083 shares during the period. Burney Co.'s holdings in Ingevity were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Federated Hermes Inc. acquired a new stake in shares of Ingevity in the second quarter valued at about $916,000. Oppenheimer Asset Management Inc. boosted its holdings in Ingevity by 17.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,426 shares of the company's stock worth $1,111,000 after acquiring an additional 3,784 shares during the period. Envestnet Asset Management Inc. grew its position in Ingevity by 4.0% in the second quarter. Envestnet Asset Management Inc. now owns 58,145 shares of the company's stock valued at $2,542,000 after acquiring an additional 2,262 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ingevity by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company's stock valued at $36,977,000 after purchasing an additional 88,026 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Ingevity by 29.4% during the second quarter. Hsbc Holdings PLC now owns 34,890 shares of the company's stock worth $1,529,000 after purchasing an additional 7,935 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Performance

Shares of NGVT opened at $47.07 on Friday. Ingevity Co. has a 52-week low of $30.90 and a 52-week 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 firm has a market cap of $1.71 billion, a price-to-earnings ratio of -3.03 and a beta of 1.65. The business's 50 day moving average is $44.09 and its two-hundred day moving average is $40.77.

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

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.