Bank of Montreal Can Sells 479 Shares of Ingevity Co. (NYSE:NGVT)

Bank of Montreal Can reduced its position in shares of Ingevity Co. (NYSE:NGVT) by 1.3% in the second quarter, Holdings Channel reports. The fund owned 37,593 shares of the company’s stock after selling 479 shares during the quarter. Bank of Montreal Can’s holdings in Ingevity were worth $1,687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in shares of Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after buying an additional 526 shares during the period. TFO Wealth Partners LLC boosted its holdings in Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after acquiring an additional 815 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Ingevity during the second quarter worth about $46,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Ingevity during the second quarter worth about $180,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of Ingevity stock opened at $37.04 on Friday. The business’s fifty day moving average price is $37.95 and its 200 day moving average price is $43.99. The stock has a market capitalization of $1.35 billion, a P/E ratio of -11.91 and a beta of 1.62. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, research analysts anticipate that Ingevity Co. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several recent research reports. BMO Capital Markets reduced their price target on Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Oppenheimer lowered their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingevity currently has a consensus rating of “Hold” and an average price target of $51.00.

Ingevity 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.