Victory Capital Management Inc. Reduces Stake in Ingevity Co. (NYSE:NGVT)

Victory Capital Management Inc. lessened its stake in shares of Ingevity Co. (NYSE:NGVT) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 990,019 shares of the company’s stock after selling 38,666 shares during the period. Victory Capital Management Inc.’s holdings in Ingevity were worth $38,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. grew 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 purchasing an additional 526 shares during the period. Isthmus Partners LLC purchased a new stake in shares of Ingevity in the 2nd quarter valued at approximately $35,000. Blue Trust Inc. lifted 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 last quarter. Headlands Technologies LLC acquired a new stake in Ingevity in the 2nd quarter valued at approximately $46,000. Finally, nVerses Capital LLC purchased a new stake in Ingevity in the third quarter valued at approximately $113,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NGVT shares. Oppenheimer lowered their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. BMO Capital Markets boosted their price target on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Trading Up 1.7 %

NYSE:NGVT opened at $45.97 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -2.96 and a beta of 1.60. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29. The stock’s 50 day moving average price is $38.34 and its 200 day moving average price is $42.24. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same period last year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts anticipate that Ingevity Co. will post 2.55 EPS for the current year.

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.