Victory Capital Management Inc. Sells 38,666 Shares of Ingevity Co. (NYSE:NGVT)

Victory Capital Management Inc. lessened its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 990,019 shares of the company's stock after selling 38,666 shares during the period. Victory Capital Management Inc. owned about 2.72% of Ingevity worth $38,611,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NGVT. First Horizon Advisors Inc. raised its position in Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock valued at $26,000 after buying an additional 526 shares during the period. Isthmus Partners LLC acquired a new position in shares of Ingevity in the 2nd quarter valued at about $35,000. Blue Trust Inc. lifted its position in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company's stock worth $43,000 after purchasing an additional 452 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ingevity during the second quarter worth approximately $46,000. Finally, nVerses Capital LLC purchased a new position in Ingevity during the third quarter valued at approximately $113,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. BMO Capital Markets increased their price objective on Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Oppenheimer lowered their target price on Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Finally, CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ingevity has an average rating of "Moderate Buy" and an average price target of $52.17.

Ingevity Stock Up 1.7 %

Shares of NGVT stock opened at $45.97 on Friday. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The stock's 50 day simple moving average is $38.34 and its 200 day simple moving average is $42.24. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29.

Ingevity (NYSE:NGVT - Get Free Report) last announced its 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 firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business's quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. As a group, equities research analysts forecast 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.