Algert Global LLC Sells 12,368 Shares of Ingevity Co. (NYSE:NGVT)

Algert Global LLC lessened its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,306 shares of the company's stock after selling 12,368 shares during the period. Algert Global LLC owned 0.11% of Ingevity worth $1,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NGVT. Maple Rock Capital Partners Inc. bought a new stake in shares of Ingevity during the fourth quarter worth about $17,515,000. American Century Companies Inc. increased its position in shares of Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after acquiring an additional 398,800 shares in the last quarter. Royce & Associates LP increased its position in shares of Ingevity by 22.4% during the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after acquiring an additional 208,921 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Ingevity during the fourth quarter worth about $4,882,000. Finally, Wellington Management Group LLP increased its position in shares of Ingevity by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock worth $91,279,000 after acquiring an additional 115,581 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

NGVT has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Finally, StockNews.com cut shares of Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.75.

Ingevity Stock Up 0.3%

Ingevity stock traded up $0.13 during midday trading on Tuesday, hitting $43.17. 322,339 shares of the stock were exchanged, compared to its average volume of 279,768. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.65 and a beta of 1.31. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $56.28. The business's 50-day moving average price is $37.43 and its 200-day moving average price is $42.04.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company's quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, research analysts expect that Ingevity Co. will post 4.45 EPS for the current fiscal year.

About Ingevity

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.