PNC Financial Services Group Inc. Sells 1,787 Shares of Ingevity Co. (NYSE:NGVT)

PNC Financial Services Group Inc. lowered its position in shares of Ingevity Co. (NYSE:NGVT) by 12.2% in the 4th quarter, HoldingsChannel reports. The firm owned 12,835 shares of the company’s stock after selling 1,787 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ingevity were worth $606,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its stake in Ingevity by 40,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after purchasing an additional 815 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Ingevity in the fourth quarter worth about $41,000. Principal Securities Inc. purchased a new position in shares of Ingevity in the fourth quarter worth about $67,000. Quadrant Capital Group LLC increased its holdings in shares of Ingevity by 207.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Ingevity in the fourth quarter worth about $208,000. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NGVT shares. Oppenheimer lifted their price objective on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Loop Capital lifted their price objective on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Ingevity Trading Up 1.3 %

NGVT opened at $44.24 on Thursday. The business has a 50 day simple moving average of $48.90 and a two-hundred day simple moving average of $46.57. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -14.23 and a beta of 1.72. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business had revenue of $340.10 million during the quarter, compared to analyst estimates of $319.15 million. During the same quarter in the prior year, the company posted $1.09 EPS. Ingevity’s quarterly revenue was down 13.4% compared to the same quarter last year. Analysts predict that Ingevity Co. will post 3.63 EPS for the current 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.