Rhumbline Advisers Sells 1,289 Shares of Ingevity Co. (NYSE:NGVT)

Rhumbline Advisers trimmed its position in shares of Ingevity Co. (NYSE:NGVT) by 1.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,521 shares of the company’s stock after selling 1,289 shares during the period. Rhumbline Advisers’ holdings in Ingevity were worth $4,612,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares during the period. TFO Wealth Partners LLC lifted its stake in Ingevity by 40,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after purchasing an additional 815 shares during the last quarter. Blue Trust Inc. lifted its stake 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. Principal Securities Inc. acquired a new stake in shares of Ingevity in the 4th quarter valued at $67,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Ingevity by 207.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after purchasing an additional 1,401 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Trading Up 8.3 %

Shares of NYSE NGVT opened at $38.56 on Monday. The firm has a 50 day moving average price of $39.69 and a two-hundred day moving average price of $44.70. The stock has a market cap of $1.40 billion, a P/E ratio of -12.40 and a beta of 1.62. Ingevity Co. has a 52-week low of $32.21 and a 52-week high of $56.29. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same quarter in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, equities analysts forecast that Ingevity Co. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on NGVT shares. Oppenheimer lowered their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their target price 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. Finally, BMO Capital Markets dropped their price target on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.33.

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.