Isthmus Partners LLC Sells 9,322 Shares of Ingevity Corporation (NYSE:NGVT)

Isthmus Partners LLC trimmed its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 12.0% in the first quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGVT. GAMMA Investing LLC raised its position in shares of Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after acquiring an additional 618 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Ingevity in the 4th quarter valued at about $214,000. Teacher Retirement System of Texas bought a new stake in shares of Ingevity in the 4th quarter valued at about $237,000. Balyasny Asset Management L.P. bought a new stake in shares of Ingevity in the 4th quarter valued at about $302,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Ingevity by 28.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock valued at $313,000 after acquiring an additional 1,717 shares during the period. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on NGVT shares. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Wells Fargo & Company raised their price target on shares of Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. One research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $52.75.

Ingevity Stock Down 1.6%

Ingevity stock traded down $0.77 during midday trading on Friday, hitting $47.45. 161,114 shares of the stock were exchanged, compared to its average volume of 276,412. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $51.67. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -4.87 and a beta of 1.38. The business's 50-day moving average price is $42.75 and its 200-day moving average price is $41.50. 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 quarterly earnings data on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $299.13 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company's revenue for the quarter was down 16.5% on a year-over-year basis. On average, research analysts expect that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

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.