Swedbank AB Lowers Stock Holdings in Ingevity Co. (NYSE:NGVT)

Swedbank AB lowered its holdings in Ingevity Co. (NYSE:NGVT) by 76.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,866 shares of the company’s stock after selling 53,834 shares during the period. Swedbank AB’s holdings in Ingevity were worth $658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank grew its position in Ingevity by 2.4% during the third quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock valued at $416,000 after acquiring an additional 246 shares during the period. First Horizon Advisors Inc. grew its position in Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 valued at $326,000 after acquiring an additional 279 shares during the period. Louisiana State Employees Retirement System grew its position in Ingevity by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock valued at $743,000 after acquiring an additional 300 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Ingevity by 1.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company’s stock valued at $1,004,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NGVT. BMO Capital Markets boosted their price target on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Oppenheimer decreased their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company decreased their target price on 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 raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Trading Up 0.5 %

NYSE:NGVT opened at $47.73 on Thursday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The business’s 50-day simple moving average is $39.98 and its 200 day simple moving average is $41.85. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -3.07 and a beta of 1.60.

Ingevity (NYSE:NGVT) last released its quarterly 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. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business had revenue of $376.90 million for the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was down 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

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.