Wellington Management Group LLP Has $82.85 Million Stock Holdings in Ingevity Co. (NYSE:NGVT)

Wellington Management Group LLP lowered its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,124,389 shares of the company's stock after selling 54,962 shares during the quarter. Wellington Management Group LLP owned approximately 5.84% of Ingevity worth $82,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock valued at $26,000 after acquiring an additional 526 shares during the period. Isthmus Partners LLC acquired a new stake in Ingevity in the 2nd quarter valued at about $35,000. Blue Trust Inc. grew its holdings in Ingevity by 101.8% during the second 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 position in Ingevity during the second quarter worth approximately $46,000. Finally, KBC Group NV raised its stake in Ingevity by 50.8% in the third 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. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets upped their price objective on shares of 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.17.

Ingevity Stock Performance

NYSE NGVT traded up $0.64 on Wednesday, reaching $46.99. The stock had a trading volume of 202,406 shares, compared to its average volume of 265,264. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The company has a market cap of $1.71 billion, a P/E ratio of -2.99 and a beta of 1.62. The firm has a fifty day moving average of $41.56 and a two-hundred day moving average of $41.53.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping 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 business had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same period last year, the firm earned $1.21 earnings per share. Ingevity's revenue for the quarter was down 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ingevity Co. will post 2.55 EPS for the current 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.