Ingevity Co. (NYSE:NGVT) is Sapience Investments LLC's 10th Largest Position

Sapience Investments LLC trimmed its stake in Ingevity Co. (NYSE:NGVT - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,529 shares of the company's stock after selling 15,527 shares during the period. Ingevity comprises 2.0% of Sapience Investments LLC's holdings, making the stock its 10th biggest holding. Sapience Investments LLC owned about 0.23% of Ingevity worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NGVT. KBC Group NV grew its stake 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 purchasing an additional 433 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ingevity in the 4th quarter valued at about $187,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Ingevity in the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas bought a new position in shares of Ingevity during the 4th quarter worth approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Ingevity during the 4th quarter worth approximately $239,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NGVT. Wall Street Zen downgraded Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.75.

Ingevity Price Performance

NGVT stock traded down $0.08 during mid-day trading on Thursday, reaching $40.98. The company's stock had a trading volume of 73,757 shares, compared to its average volume of 279,868. Ingevity Co. has a fifty-two week low of $28.49 and a fifty-two week high of $51.67. The stock has a market cap of $1.49 billion, a PE ratio of -3.46 and a beta of 1.31. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The company's 50 day moving average is $37.06 and its two-hundred day moving average is $42.16.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.25. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The firm had revenue of $284.00 million for the quarter, compared to analysts' expectations of $299.13 million. During the same quarter in the previous year, the company posted $0.47 EPS. The company's revenue was down 16.5% compared to the same quarter last year. Equities research analysts expect that Ingevity Co. will post 4.45 EPS 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.