Ingevity Co. (NYSE:NGVT) Stock Position Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position 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 Securities & Exchange Commission. The firm 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 0.40% of Ingevity worth $5,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. bought a new stake in shares of Ingevity during the fourth quarter valued at about $17,515,000. American Century Companies Inc. raised its position in shares of Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after buying an additional 398,800 shares in the last quarter. Vision One Management Partners LP raised its position in shares of Ingevity by 265.0% during the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after buying an additional 298,157 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Ingevity by 22.4% in the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company's stock worth $46,561,000 after acquiring an additional 208,921 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Ingevity by 23.6% in the fourth quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock valued at $37,825,000 after acquiring an additional 177,289 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Price Performance

Shares of NYSE NGVT traded down $0.26 during midday trading on Wednesday, reaching $41.46. The company's stock had a trading volume of 168,802 shares, compared to its average volume of 279,894. Ingevity Co. has a one year low of $28.49 and a one year high of $51.67. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -3.50 and a beta of 1.31. The company has a 50 day moving average price of $36.85 and a 200 day moving average price of $41.91. 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 (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.25. The company had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm's revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities research analysts expect that Ingevity Co. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NGVT. Wall Street Zen cut Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. BMO Capital Markets raised Ingevity from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ingevity presently has an average rating of "Moderate Buy" and an average price target 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.