Ingevity Co. (NYSE:NGVT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Ingevity Co. (NYSE:NGVT) by 64.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,788 shares of the company’s stock after selling 47,039 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Ingevity worth $1,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 809.2% during 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 period. Blue Trust Inc. increased its holdings in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Ingevity in the 2nd quarter worth about $46,000. KBC Group NV increased its holdings in shares of Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after acquiring an additional 530 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Ingevity in the 3rd quarter worth about $113,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Stock Up 0.5 %

Ingevity stock opened at $47.73 on Thursday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -3.06 and a beta of 1.60. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company’s 50-day moving average price is $39.98 and its two-hundred day moving average price is $41.85. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.29.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, analysts expect that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NGVT shares. BMO Capital Markets increased their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Oppenheimer dropped their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, CJS Securities raised shares of 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

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.