Inspire Investing LLC Cuts Holdings in Ingevity Co. (NYSE:NGVT)

Inspire Investing LLC reduced its position in Ingevity Co. (NYSE:NGVT) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,836 shares of the company’s stock after selling 618 shares during the period. Inspire Investing LLC’s holdings in Ingevity were worth $401,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in shares of Ingevity by 4.0% in the second quarter. Envestnet Asset Management Inc. now owns 58,145 shares of the company’s stock valued at $2,542,000 after purchasing an additional 2,262 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ingevity by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after buying an additional 88,026 shares during the last quarter. Sei Investments Co. raised its position in shares of Ingevity by 23.9% during the 2nd quarter. Sei Investments Co. now owns 162,627 shares of the company’s stock valued at $7,108,000 after buying an additional 31,406 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Ingevity by 488.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,369 shares of the company’s stock valued at $1,021,000 after acquiring an additional 19,398 shares during the last quarter. Finally, AXA S.A. bought a new position in shares of Ingevity in the 2nd quarter valued at about $408,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets upped their price objective on Ingevity from $40.00 to $47.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and an average target price of $52.17.

Ingevity Stock Performance

Ingevity stock opened at $46.82 on Monday. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company’s 50-day moving average is $44.22 and its 200 day moving average is $40.94. The firm has a market capitalization of $1.70 billion, a P/E ratio of -3.01 and a beta of 1.65. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter in the previous year, the business earned $1.21 EPS. Ingevity’s revenue was down 15.5% compared to the same quarter last year. Research analysts forecast that Ingevity Co. will post 2.75 EPS for the current year.

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.