Algert Global LLC Reduces Position in Ingevity Co. (NYSE:NGVT)

Algert Global LLC reduced its position in shares of Ingevity Co. (NYSE:NGVT) by 22.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,674 shares of the company’s stock after selling 14,929 shares during the period. Algert Global LLC’s holdings in Ingevity were worth $2,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Segall Bryant & Hamill LLC lifted its holdings in Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after buying an additional 297,135 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Ingevity in the second quarter valued at approximately $11,416,000. Royce & Associates LP increased its stake in Ingevity by 23.3% in 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 during the last quarter. Millennium Management LLC raised its holdings in Ingevity by 46.9% during the second quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock worth $22,054,000 after purchasing an additional 161,014 shares in the last quarter. Finally, Burney Co. lifted its position in shares of Ingevity by 2,449.8% during the 1st quarter. Burney Co. now owns 112,268 shares of the company’s stock worth $5,355,000 after buying an additional 107,865 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

NGVT has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Oppenheimer reduced their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets raised their target price on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingevity currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Stock Up 0.5 %

NGVT opened at $47.73 on Thursday. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The business has a 50 day moving average price of $39.98 and a two-hundred day moving average price of $41.85. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The company has a market cap of $1.73 billion, a PE ratio of -3.07 and a beta of 1.60.

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