UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Ingevity Co. (NYSE:NGVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 23.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 145,801 shares of the company's stock after selling 44,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.40% of Ingevity worth $5,941,000 as of its most recent SEC filing.

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 shares of 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 purchasing an additional 433 shares during the last quarter. Empowered Funds LLC bought a new stake in Ingevity in the 4th quarter worth about $187,000. O Shaughnessy Asset Management LLC bought a new stake in Ingevity in the 4th quarter worth about $214,000. Teacher Retirement System of Texas purchased a new stake in Ingevity in the 4th quarter valued at about $237,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Ingevity during the 4th quarter worth approximately $302,000. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Performance

NGVT traded up $0.86 during midday trading on Friday, reaching $42.00. The company had a trading volume of 187,351 shares, compared to its average volume of 278,616. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $51.67. The business has a 50-day moving average price of $36.98 and a two-hundred day moving average price of $41.85. The stock has a market cap of $1.53 billion, a PE ratio of -3.55 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $299.13 million. During the same quarter in the previous year, the firm posted $0.47 EPS. Ingevity's revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts expect that Ingevity Co. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Finally, Wall Street Zen downgraded Ingevity from a "buy" rating to a "hold" rating in a research note 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.