Ingevity Co. (NYSE:NGVT) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,359 shares of the company's stock after selling 27,236 shares during the period. Wedge Capital Management L L P NC owned about 0.25% of Ingevity worth $3,617,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG lifted its position in shares of Ingevity by 53.3% during the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock worth $1,383,000 after purchasing an additional 11,801 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Ingevity during the 4th quarter worth $863,000. Raymond James Financial Inc. acquired a new stake in Ingevity during the 4th quarter worth $3,018,000. Barclays PLC raised its stake in Ingevity by 245.3% during the 3rd quarter. Barclays PLC now owns 66,761 shares of the company's stock worth $2,603,000 after acquiring an additional 47,429 shares in the last quarter. Finally, Amundi raised its stake in Ingevity by 193.2% during the 4th quarter. Amundi now owns 19,876 shares of the company's stock worth $750,000 after acquiring an additional 13,097 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Performance

NYSE NGVT traded down $1.32 during trading on Friday, reaching $41.88. The company's stock had a trading volume of 287,357 shares, compared to its average volume of 277,398. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -3.54 and a beta of 1.39. Ingevity Co. has a twelve month low of $28.49 and a twelve month high of $51.67. The business's fifty day moving average price is $37.97 and its 200-day moving average price is $41.68.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.25. The company had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. Ingevity's quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, analysts anticipate that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NGVT. Wells Fargo & Company lifted their price target on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $52.75.

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.