UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.41 Million Stock Holdings in Ingevity Co. (NYSE:NGVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,090 shares of the company's stock after selling 46,418 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.52% of Ingevity worth $7,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company's stock valued at $326,000 after acquiring an additional 279 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Ingevity by 4.4% during the second quarter. Wedge Capital Management L L P NC now owns 143,493 shares of the company's stock valued at $6,272,000 after purchasing an additional 6,009 shares during the period. Blue Trust Inc. raised its stake in shares of Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company's stock valued at $43,000 after purchasing an additional 452 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock worth $26,000 after purchasing an additional 526 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Ingevity by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company's stock valued at $743,000 after buying an additional 300 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, BMO Capital Markets upped their price target 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.17.

Ingevity Price Performance

NYSE:NGVT traded down $0.20 during trading hours on Tuesday, reaching $46.42. 220,509 shares of the company's stock were exchanged, compared to its average volume of 265,528. The company has a market capitalization of $1.69 billion, a P/E ratio of -2.99 and a beta of 1.62. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.29. The business's 50-day simple moving average is $41.56 and its two-hundred day simple moving average is $41.53. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

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

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.