D. E. Shaw & Co. Inc. Has $1.19 Million Stock Position in Ingevity Co. (NYSE:NGVT)

D. E. Shaw & Co. Inc. cut its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 69.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,150 shares of the company's stock after selling 64,747 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.08% of Ingevity worth $1,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. KBC Group NV boosted its stake in Ingevity by 27.5% during 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 in the last quarter. Empowered Funds LLC acquired a new stake in shares of Ingevity in the fourth quarter valued at $187,000. O Shaughnessy Asset Management LLC bought a new position in Ingevity during the fourth quarter valued at about $214,000. Teacher Retirement System of Texas bought a new position in Ingevity during the fourth quarter valued at about $237,000. Finally, Balyasny Asset Management L.P. acquired a new position in Ingevity during the fourth quarter worth about $302,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Trading Up 0.7%

Shares of NYSE:NGVT traded up $0.31 during mid-day trading on Thursday, hitting $42.91. The stock had a trading volume of 237,032 shares, compared to its average volume of 281,001. The company's 50 day moving average is $36.89 and its 200-day moving average is $42.03. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $51.67. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The company has a market cap of $1.56 billion, a PE ratio of -3.62 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last released 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 positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $284.00 million during the quarter, compared to analyst estimates of $299.13 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company's revenue for the quarter was down 16.5% on a year-over-year basis. On average, sell-side 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 have weighed in on the stock. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price target for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Wells Fargo & Company raised their price objective on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Ingevity from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.75.

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.