Ingevity Co. (NYSE:NGVT) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in Ingevity Co. (NYSE:NGVT) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,595 shares of the company’s stock after selling 10,554 shares during the quarter. Wedge Capital Management L L P NC owned about 0.33% of Ingevity worth $4,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its position in Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares in the last quarter. KBC Group NV increased its holdings in shares of Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after buying an additional 530 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Ingevity by 179.6% during the 3rd quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after acquiring an additional 1,609 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Ingevity in the 3rd quarter worth $113,000. Finally, Nisa Investment Advisors LLC raised its holdings in Ingevity by 27.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after buying an additional 831 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

Shares of NGVT opened at $47.07 on Monday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a market cap of $1.71 billion, a PE ratio of -3.03 and a beta of 1.65. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29. The firm’s 50 day moving average price is $44.09 and its 200 day moving average price is $40.74.

Ingevity (NYSE:NGVT) last posted its 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. The firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, research analysts expect that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Ingevity 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.