Ingevity Co. (NYSE:NGVT) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. trimmed its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 55.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the company's stock after selling 26,000 shares during the quarter. Icon Advisers Inc. Co. owned 0.06% of Ingevity worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV lifted its holdings in Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after acquiring an additional 433 shares during the period. Empowered Funds LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at about $187,000. O Shaughnessy Asset Management LLC bought a new position in shares of Ingevity in the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas purchased a new stake in Ingevity during the fourth quarter valued at approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Ingevity in the fourth quarter worth approximately $239,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NGVT has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. StockNews.com cut Ingevity from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.83.

Ingevity Trading Up 1.3 %

NGVT traded up $0.42 during trading hours on Friday, reaching $31.49. 264,463 shares of the company's stock traded hands, compared to its average volume of 275,353. The firm has a 50-day moving average price of $40.94 and a 200 day moving average price of $41.82. The firm has a market capitalization of $1.15 billion, a PE ratio of -2.66 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 52-week low of $28.49 and a 52-week high of $56.30.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm had revenue of $298.80 million for the quarter, compared to analysts' expectations of $297.40 million. As a group, sell-side analysts predict that Ingevity Co. 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.