Quadrature Capital Ltd Cuts Stake in Ingevity Co. (NYSE:NGVT)

Quadrature Capital Ltd lowered its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 67.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,681 shares of the company's stock after selling 13,737 shares during the quarter. Quadrature Capital Ltd's holdings in Ingevity were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock valued at $26,000 after acquiring an additional 526 shares during the period. Isthmus Partners LLC acquired a new stake in shares of Ingevity during the 2nd quarter valued at approximately $35,000. Blue Trust Inc. raised its position in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company's stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Ingevity in the 2nd quarter valued at approximately $46,000. Finally, KBC Group NV increased its position in Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company's stock worth $61,000 after buying an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Trading Up 2.5 %

Shares of NYSE NGVT traded up $1.14 on Wednesday, reaching $47.49. 89,921 shares of the company traded hands, compared to its average volume of 264,788. The stock has a market capitalization of $1.73 billion, a PE ratio of -2.99 and a beta of 1.62. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company has a 50 day moving average of $41.56 and a 200 day moving average of $41.53. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.29.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share 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 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 business's quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. On average, equities research analysts forecast that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets increased their price objective on Ingevity from $40.00 to $47.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.17.

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.