Ingevity Co. (NYSE:NGVT) Shares Sold by Southernsun Asset Management LLC

Southernsun Asset Management LLC decreased its holdings in Ingevity Co. (NYSE:NGVT) by 7.9% in the third quarter, Holdings Channel reports. The fund owned 673,319 shares of the company’s stock after selling 57,675 shares during the period. Ingevity accounts for approximately 3.1% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Southernsun Asset Management LLC’s holdings in Ingevity were worth $26,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after buying an additional 198,300 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Ingevity by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock valued at $53,939,000 after purchasing an additional 23,497 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in Ingevity by 33.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after purchasing an additional 297,135 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Ingevity by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock valued at $44,964,000 after purchasing an additional 13,771 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Ingevity by 23.3% in the 3rd quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after purchasing an additional 176,447 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets raised their price target on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Ingevity Stock Performance

Shares of NGVT stock opened at $46.02 on Friday. 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 Co. has a 52 week low of $30.90 and a 52 week high of $56.29. The stock has a market capitalization of $1.67 billion, a PE ratio of -2.96 and a beta of 1.62. The firm has a 50 day moving average of $41.11 and a two-hundred day moving average of $41.70.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. On average, research analysts predict that Ingevity Co. will post 2.55 EPS for the current fiscal 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.