Connor Clark & Lunn Investment Management Ltd. Has $1.01 Million Position in Ingevity Co. (NYSE:NGVT)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 64.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,788 shares of the company's stock after selling 47,039 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Ingevity worth $1,006,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Swedbank AB acquired a new position in shares of Ingevity during the first quarter valued at $3,372,000. American Century Companies Inc. raised its holdings in Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company's stock worth $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in Ingevity in the second quarter worth approximately $748,000. ClariVest Asset Management LLC bought a new position in Ingevity during the 2nd quarter valued at $3,550,000. Finally, Jade Capital Advisors LLC bought a new position in shares of Ingevity during the 3rd quarter valued at about $1,170,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

NGVT has been the topic of several research reports. CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Oppenheimer decreased their price target on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, August 5th. Finally, BMO Capital Markets lifted their price target on 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 company. Based on data from MarketBeat, Ingevity presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.17.

Ingevity Stock Performance

Ingevity stock traded up $0.22 during mid-day trading on Thursday, reaching $47.73. The company had a trading volume of 181,636 shares, compared to its average volume of 267,883. The company has a 50 day moving average of $40.15 and a 200-day moving average of $41.89. 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 $1.73 billion, a price-to-earnings ratio of -3.07 and a beta of 1.60.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. The company had revenue of $376.90 million for the quarter, compared to analyst estimates 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 was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. On average, sell-side analysts expect that Ingevity Co. will post 2.55 EPS for the current fiscal 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.