Victory Capital Management Inc. Sells 134,623 Shares of Ingevity Corporation (NYSE:NGVT)

Victory Capital Management Inc. reduced its position in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,343 shares of the company's stock after selling 134,623 shares during the period. Victory Capital Management Inc. owned approximately 2.30% of Ingevity worth $33,230,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Ingevity by 119.1% during the 1st 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 purchased a new position in shares of Ingevity in the fourth quarter worth $214,000. Teacher Retirement System of Texas bought a new stake in Ingevity during the 4th quarter valued at $237,000. Balyasny Asset Management L.P. bought a new stake in Ingevity during the 4th quarter valued at $302,000. Finally, Wealth Enhancement Advisory Services LLC grew 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 worth $313,000 after acquiring an additional 1,717 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

NGVT has been the topic of several research reports. Wells Fargo & Company lifted their price target on Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen raised 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $55.25.

Ingevity Stock Performance

NGVT traded up $0.26 during trading on Tuesday, hitting $46.44. 229,617 shares of the stock were exchanged, compared to its average volume of 275,244. The firm has a market capitalization of $1.69 billion, a P/E ratio of -4.77 and a beta of 1.38. The stock has a fifty day moving average price of $43.47 and a two-hundred day moving average price of $41.70. 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 Corporation has a 1-year low of $28.49 and a 1-year high of $51.67.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share 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 company had revenue of $284.00 million during the quarter, compared to the consensus estimate of $299.13 million. During the same quarter in the previous year, the firm earned $0.47 EPS. The company's revenue 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.