EVR Research LP Sells 135,000 Shares of Ingevity Co. (NYSE:NGVT)

EVR Research LP reduced its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,000 shares of the company's stock after selling 135,000 shares during the period. Ingevity comprises approximately 3.8% of EVR Research LP's holdings, making the stock its 11th largest holding. EVR Research LP owned about 0.77% of Ingevity worth $11,410,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. KBC Group NV boosted its stake in Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after acquiring an additional 433 shares during the period. Empowered Funds LLC bought a new position in Ingevity in the 4th quarter valued at about $187,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ingevity in the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas bought a new position in shares of Ingevity in the fourth quarter valued at approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity during the fourth quarter worth approximately $239,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Up 2.1 %

Shares of NGVT stock traded up $0.65 during trading hours on Thursday, hitting $31.72. 86,904 shares of the company were exchanged, compared to its average volume of 273,576. The company has a market capitalization of $1.16 billion, a PE ratio of -2.68 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. Ingevity Co. has a 52 week low of $28.49 and a 52 week high of $56.30. The business has a 50 day moving average of $41.47 and a two-hundred day moving average of $41.92.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Wells Fargo & Company reduced their target price on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. 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 report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.83.

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.