Leeward Investments LLC MA Decreases Holdings in Ingevity Co. (NYSE:NGVT)

Leeward Investments LLC MA trimmed its stake in shares of Ingevity Co. (NYSE:NGVT) by 27.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,606 shares of the company’s stock after selling 77,402 shares during the period. Leeward Investments LLC MA owned 0.56% of Ingevity worth $8,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its position in Ingevity by 1.3% during the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock worth $925,000 after purchasing an additional 249 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Ingevity by 3.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after purchasing an additional 279 shares during the last quarter. Savant Capital LLC increased its position in Ingevity by 0.4% during the fourth quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock worth $3,982,000 after purchasing an additional 342 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Ingevity by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock worth $1,402,000 after purchasing an additional 388 shares during the last quarter. Finally, Blue Trust Inc. increased its position in 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 last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Up 1.2 %

Shares of NYSE NGVT traded up $0.43 during midday trading on Monday, hitting $36.40. The company’s stock had a trading volume of 16,031 shares, compared to its average volume of 240,005. The business’s fifty day simple moving average is $42.46 and its two-hundred day simple moving average is $45.89. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 0.98. Ingevity Co. has a 1 year low of $33.49 and a 1 year high of $56.29. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -11.57 and a beta of 1.66.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. During the same period in the previous year, the business posted $1.41 EPS. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. On average, equities analysts predict that Ingevity Co. will post 3.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Oppenheimer dropped their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. BMO Capital Markets dropped their price target 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. Wells Fargo & Company dropped their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.