Stifel Financial Corp Lowers Position in Ingevity Co. (NYSE:NGVT)

Stifel Financial Corp reduced its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 77.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,756 shares of the company's stock after selling 62,307 shares during the period. Stifel Financial Corp's holdings in Ingevity were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its stake in shares of Ingevity by 33.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock worth $46,231,000 after buying an additional 297,135 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Ingevity during the 2nd quarter worth approximately $11,416,000. Harvey Partners LLC purchased a new stake in shares of Ingevity in the third quarter valued at approximately $7,878,000. Royce & Associates LP increased its holdings in shares of Ingevity by 23.3% in the third quarter. Royce & Associates LP now owns 933,677 shares of the company's stock valued at $36,413,000 after purchasing an additional 176,447 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Ingevity by 46.9% during the second quarter. Millennium Management LLC now owns 504,552 shares of the company's stock worth $22,054,000 after buying an additional 161,014 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Stock Up 0.7 %

Ingevity stock traded up $0.29 during mid-day trading on Thursday, hitting $41.75. The company had a trading volume of 95,633 shares, compared to its average volume of 266,229. 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 Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The business has a fifty day moving average of $43.38 and a 200 day moving average of $41.20. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -2.69 and a beta of 1.62.

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

Wall Street Analyst Weigh In

Separately, BMO Capital Markets upped their price objective on Ingevity from $40.00 to $47.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Three 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.17.

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.