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

Algert Global LLC cut its holdings in Ingevity Co. (NYSE:NGVT - Free Report) by 23.9% during 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 about 0.11% of Ingevity worth $1,602,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. KBC Group NV raised its holdings in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after purchasing an additional 433 shares during the period. Arizona State Retirement System increased its position in Ingevity by 6.1% during the fourth quarter. Arizona State Retirement System now owns 10,550 shares of the company's stock worth $430,000 after buying an additional 611 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in Ingevity by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company's stock valued at $307,000 after buying an additional 628 shares during the period. Hudson Edge Investment Partners Inc. lifted its position in shares of Ingevity by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company's stock valued at $658,000 after buying an additional 750 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ingevity by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company's stock valued at $493,000 after buying an additional 765 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Performance

NGVT traded down $0.13 during trading on Thursday, hitting $43.13. The stock had a trading volume of 61,091 shares, compared to its average volume of 279,656. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The company has a 50 day moving average price of $37.28 and a 200-day moving average price of $42.05. Ingevity Co. has a one year low of $28.49 and a one year high of $55.88. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -3.62 and a beta of 1.31.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NGVT shares. StockNews.com cut Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Wells Fargo & Company upped their price objective on shares of Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.75.

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.