Ingevity Co. (NYSE:NGVT) Position Trimmed by Swedbank AB

Swedbank AB lessened its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 76.1% during the 3rd quarter, according to its most recent 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.

Several other institutional investors have also recently added to or reduced their stakes in NGVT. Vanguard Group Inc. boosted its holdings in Ingevity by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company's stock valued at $182,143,000 after purchasing an additional 75,198 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Ingevity by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company's stock valued at $53,939,000 after purchasing an additional 23,497 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Ingevity by 33.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock valued at $46,231,000 after purchasing an additional 297,135 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Ingevity by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company's stock valued at $44,964,000 after purchasing an additional 13,771 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in Ingevity by 23.3% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Trading Up 0.5 %

Shares of NGVT stock traded up $0.22 on Thursday, reaching $47.73. 181,636 shares of the stock were exchanged, compared to its average volume of 267,883. The stock has a market cap of $1.73 billion, a P/E ratio of -3.07 and a beta of 1.60. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The firm has a 50 day moving average of $40.15 and a two-hundred day moving average of $41.89. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted 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. Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, August 5th. CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer decreased their price target on Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.17.

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.