Ingevity Co. (NYSE:NGVT) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,279,811 shares of the company's stock after selling 119,294 shares during the quarter. LSV Asset Management owned approximately 3.53% of Ingevity worth $60,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Ingevity by 57.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company's stock worth $87,572,000 after acquiring an additional 677,718 shares in the last quarter. Savant Capital LLC boosted its position in shares of Ingevity by 0.4% in the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company's stock worth $3,982,000 after purchasing an additional 342 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Ingevity by 186.3% in the 4th quarter. Russell Investments Group Ltd. now owns 69,193 shares of the company's stock worth $3,267,000 after buying an additional 45,021 shares during the last quarter. GAMMA Investing LLC bought a new position in Ingevity during the 4th quarter valued at approximately $41,000. Finally, New York State Common Retirement Fund raised its stake in Ingevity by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 184,783 shares of the company's stock valued at $8,725,000 after buying an additional 5,771 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NGVT shares. Jefferies Financial Group raised Ingevity from a "hold" rating to a "buy" rating and increased their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Wells Fargo & Company lifted their target price on shares of Ingevity from $43.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd. Finally, Oppenheimer upped their target price on shares of Ingevity from $50.00 to $58.00 and gave the stock an "outperform" rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.50.

Ingevity Stock Performance

Shares of NGVT traded down $1.24 during trading hours on Friday, hitting $53.56. The stock had a trading volume of 374,454 shares, compared to its average volume of 221,028. The firm has a market capitalization of $1.94 billion, a PE ratio of -17.22 and a beta of 1.79. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.96. Ingevity Co. has a 12 month low of $36.66 and a 12 month high of $68.11. The stock has a fifty day moving average price of $46.99 and a 200 day moving average price of $44.19.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million for the quarter, compared to analysts' expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The business's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. Analysts anticipate that Ingevity Co. will post 3.78 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.