Quest Partners LLC Sells 1,494 Shares of Ingevity Co. (NYSE:NGVT)

Quest Partners LLC trimmed its holdings in shares of Ingevity Co. (NYSE:NGVT) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,177 shares of the company’s stock after selling 1,494 shares during the quarter. Quest Partners LLC’s holdings in Ingevity were worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGVT. First Horizon Advisors Inc. grew its stake in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after purchasing an additional 526 shares during the last quarter. TFO Wealth Partners LLC grew its position in shares of Ingevity by 40,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after buying an additional 815 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares during the period. Principal Securities Inc. bought a new position in shares of Ingevity during the fourth quarter worth about $67,000. Finally, Quadrant Capital Group LLC lifted its stake 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 acquiring an additional 1,401 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Trading Up 6.3 %

NGVT opened at $35.64 on Friday. The company has a fifty day moving average price of $39.88 and a two-hundred day moving average price of $44.84. Ingevity Co. has a 1-year low of $32.21 and a 1-year high of $56.29. The company has a market cap of $1.29 billion, a P/E ratio of -11.46 and a beta of 1.62. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Analysts predict that Ingevity Co. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NGVT has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, August 5th. Oppenheimer lowered their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.33.

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.