Victory Capital Management Inc. Sells 16,053 Shares of Ingevity Co. (NYSE:NGVT)

Victory Capital Management Inc. trimmed its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 973,966 shares of the company's stock after selling 16,053 shares during the period. Victory Capital Management Inc. owned 2.68% of Ingevity worth $39,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in shares of Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock valued at $34,000 after buying an additional 271 shares during the period. KBC Group NV increased its stake in shares of Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company's stock valued at $61,000 after buying an additional 530 shares during the period. Empowered Funds LLC acquired a new stake in shares of Ingevity in the 4th quarter valued at $187,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingevity in the 4th quarter valued at $239,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Ingevity in the 3rd quarter valued at $231,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Trading Up 1.5 %

NGVT stock traded up $0.72 during midday trading on Friday, hitting $47.35. 358,636 shares of the company's stock were exchanged, compared to its average volume of 235,171. The stock's fifty day moving average price is $44.33 and its 200-day moving average price is $41.92. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The company has a market cap of $1.72 billion, a PE ratio of -4.00 and a beta of 1.53. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29.

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Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Research analysts predict that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NGVT shares. StockNews.com raised Ingevity from a "hold" rating to a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.17.

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.