Leeward Investments LLC MA Reduces Holdings in Ingevity Corporation (NYSE:NGVT)

Leeward Investments LLC MA trimmed its stake in Ingevity Corporation (NYSE:NGVT - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,523 shares of the company's stock after selling 7,824 shares during the period. Leeward Investments LLC MA owned about 0.50% of Ingevity worth $7,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NGVT. GAMMA Investing LLC grew its stake in shares of Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock worth $45,000 after acquiring an additional 618 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Ingevity during the 4th quarter worth about $214,000. Teacher Retirement System of Texas purchased a new position in shares of Ingevity in the fourth quarter valued at approximately $237,000. Balyasny Asset Management L.P. purchased a new stake in shares of Ingevity during the fourth quarter worth $302,000. Finally, Johnson Investment Counsel Inc. raised its holdings in Ingevity by 9.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company's stock valued at $307,000 after acquiring an additional 628 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NGVT. Wells Fargo & Company boosted their price target on shares of Ingevity from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $52.75.

Ingevity Stock Performance

NGVT traded down $0.03 during trading on Friday, hitting $46.76. 117,223 shares of the stock were exchanged, compared to its average volume of 275,483. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.80 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 stock has a fifty day moving average price of $41.39 and a two-hundred day moving average price of $41.30. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (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 firm had revenue of $284.00 million during the quarter, compared to analysts' expectations of $299.13 million. During the same period in the prior year, the company posted $0.47 earnings per share. The firm's revenue for the quarter was down 16.5% on a year-over-year basis. As a group, sell-side analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current year.

Ingevity Company 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.