Ingevity Co. (NYSE:NGVT) Stock Holdings Lowered by Swedbank AB

Swedbank AB decreased its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 76.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,866 shares of the company's stock after selling 53,834 shares during the period. Swedbank AB's holdings in Ingevity were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NGVT. First Horizon Advisors Inc. raised its holdings in shares of 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 acquiring an additional 526 shares during the last quarter. Isthmus Partners LLC acquired a new position in shares of Ingevity in the 2nd quarter valued at about $35,000. Blue Trust Inc. grew its holdings 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 period. Headlands Technologies LLC acquired a new stake in shares of Ingevity in the second quarter worth $46,000. Finally, Everence Capital Management Inc. acquired a new stake in Ingevity in the 2nd quarter valued at $180,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Ingevity from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, September 30th. Oppenheimer cut their target price on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. CJS Securities upgraded Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.00.

Ingevity Stock Performance

Shares of NGVT traded down $0.74 during trading hours on Friday, reaching $34.76. 227,138 shares of the company's stock traded hands, compared to its average volume of 254,992. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The business's fifty day simple moving average is $36.93 and its two-hundred day simple moving average is $43.12. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -11.18 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm's quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. Analysts predict that Ingevity Co. will post 2.63 earnings per share for the current 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.