Stifel Financial Corp Sells 62,307 Shares of Ingevity Co. (NYSE:NGVT)

Stifel Financial Corp lowered its holdings in Ingevity Co. (NYSE:NGVT) by 77.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,756 shares of the company’s stock after selling 62,307 shares during the quarter. Stifel Financial Corp’s holdings in Ingevity were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NGVT. Thrivent Financial for Lutherans lifted its holdings in Ingevity by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock worth $53,939,000 after buying an additional 23,497 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of Ingevity by 33.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after acquiring an additional 297,135 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Ingevity by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock worth $44,964,000 after purchasing an additional 13,771 shares during the last quarter. Royce & Associates LP boosted its position in Ingevity by 23.3% during the third quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after purchasing an additional 176,447 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Ingevity by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock valued at $36,977,000 after purchasing an additional 88,026 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ingevity presently has an average rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Trading Up 0.8 %

Shares of NYSE:NGVT opened at $41.46 on Thursday. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The firm has a market capitalization of $1.51 billion, a P/E ratio of -2.67 and a beta of 1.62. The business’s 50-day moving average is $43.26 and its 200 day moving average is $41.20. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter last year, the company posted $1.21 earnings per share. The business’s quarterly revenue was down 15.5% on a year-over-year basis. On average, research analysts predict that Ingevity Co. will post 2.55 earnings per share for the current fiscal 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.