Bank of Montreal Can Has $463,000 Position in Ingevity Co. (NYSE:NGVT)

Bank of Montreal Can reduced its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 71.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,350 shares of the company's stock after selling 27,773 shares during the period. Bank of Montreal Can's holdings in Ingevity were worth $463,000 at the end of the most recent quarter.

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

Ingevity Stock Up 0.0 %

Shares of NYSE:NGVT traded up $0.01 during trading on Friday, hitting $32.86. 324,154 shares of the company were exchanged, compared to its average volume of 275,513. Ingevity Co. has a fifty-two week low of $28.49 and a fifty-two week high of $56.30. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -2.78 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The firm has a fifty day moving average price of $39.64 and a two-hundred day moving average price of $41.70.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm had revenue of $298.80 million during the quarter, compared to analysts' expectations of $297.40 million. As a group, research analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGVT. StockNews.com downgraded shares of Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.20.

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.