Isthmus Partners LLC Lowers Holdings in Ingevity Corporation (NYSE:NGVT)

Isthmus Partners LLC lowered its holdings in Ingevity Corporation (NYSE:NGVT - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,162 shares of the company's stock after selling 9,322 shares during the period. Isthmus Partners LLC owned approximately 0.19% of Ingevity worth $2,699,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. purchased a new position in Ingevity in the fourth quarter valued at $17,515,000. American Century Companies Inc. boosted 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 acquiring an additional 398,800 shares in the last quarter. Vision One Management Partners LP increased its holdings in shares of Ingevity by 265.0% in the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock valued at $16,735,000 after acquiring an additional 298,157 shares during the last quarter. Royce & Associates LP raised its position in shares of Ingevity by 22.4% during 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 in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Ingevity by 23.6% during the 4th quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock worth $37,825,000 after acquiring an additional 177,289 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Stock Performance

NYSE:NGVT traded down $0.04 during mid-day trading on Wednesday, reaching $45.50. 207,135 shares of the stock were exchanged, compared to its average volume of 275,765. The stock has a market capitalization of $1.66 billion, a P/E ratio of -4.67 and a beta of 1.38. Ingevity Corporation has a 1 year low of $28.49 and a 1 year high of $51.67. The company has a 50 day simple moving average of $43.24 and a 200-day simple moving average of $41.60. The company has a quick ratio of 1.08, a current ratio of 2.00 and a debt-to-equity ratio of 5.68.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. Ingevity had a negative net margin of 26.20% and a positive return on equity of 63.76%. The business had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. During the same period in the previous year, the company posted $0.47 EPS. The company's quarterly revenue was down 16.5% on a year-over-year basis. Analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NGVT has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday. Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $55.25.

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.