Victory Capital Management Inc. Lowers Stake in Ingevity Corporation (NYSE:NGVT)

Victory Capital Management Inc. lowered its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent Form 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 quarter. Victory Capital Management Inc. owned approximately 2.30% of Ingevity worth $33,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NGVT. Rice Hall James & Associates LLC lifted its holdings in shares of Ingevity by 2.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 364,216 shares of the company's stock worth $14,419,000 after acquiring an additional 7,947 shares during the last quarter. New York State Common Retirement Fund raised its position in Ingevity by 6.6% in the 1st quarter. New York State Common Retirement Fund now owns 175,572 shares of the company's stock worth $6,951,000 after purchasing an additional 10,906 shares during the period. Brown Advisory Inc. lifted its stake in Ingevity by 1.1% in the first quarter. Brown Advisory Inc. now owns 938,820 shares of the company's stock worth $37,168,000 after purchasing an additional 10,600 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Ingevity by 7.4% during the first quarter. Envestnet Asset Management Inc. now owns 59,110 shares of the company's stock valued at $2,340,000 after buying an additional 4,095 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Ingevity during the first quarter valued at about $854,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NGVT has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective 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 shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $55.25.

Ingevity Trading Up 0.0%

Shares of NYSE NGVT traded up $0.01 during trading hours on Wednesday, hitting $46.32. The company's stock had a trading volume of 81,290 shares, compared to its average volume of 274,986. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $51.67. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -4.76 and a beta of 1.38. The company has a debt-to-equity ratio of 5.68, a quick ratio of 1.08 and a current ratio of 2.00. The business has a 50-day simple moving average of $43.53 and a 200-day simple moving average of $41.74.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a positive return on equity of 63.76% and a negative net margin of 26.20%. The business's quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. On average, analysts anticipate that Ingevity Corporation will post 4.45 earnings per share 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.