Ingevity Co. (NYSE:NGVT) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 190,093 shares of the company's stock after selling 21,922 shares during the period. Patten & Patten Inc. TN owned 0.52% of Ingevity worth $7,746,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vestcor Inc purchased a new stake in Ingevity during the third quarter worth $796,000. Geode Capital Management LLC raised its position in Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock worth $31,817,000 after acquiring an additional 33,973 shares during the period. JPMorgan Chase & Co. raised its position in Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock worth $4,586,000 after acquiring an additional 23,460 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Ingevity during the fourth quarter worth $239,000. Finally, Proficio Capital Partners LLC acquired a new position in Ingevity during the fourth quarter worth $863,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on NGVT shares. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a "hold" rating to a "buy" rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.17.

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Ingevity Price Performance

Shares of NYSE NGVT traded down $1.16 during mid-day trading on Thursday, reaching $43.09. The company's stock had a trading volume of 178,187 shares, compared to its average volume of 255,731. The stock has a 50-day moving average of $45.09 and a two-hundred day moving average of $42.25. The stock has a market capitalization of $1.57 billion, a P/E ratio of -3.64 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.30.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. The business had revenue of $298.80 million during the quarter, compared to analysts' expectations of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. On average, equities research analysts anticipate that Ingevity Co. will post 4.45 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.