Ingevity Co. (NYSE:NGVT) Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of Ingevity Co. (NYSE:NGVT) by 76.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,866 shares of the company’s stock after selling 53,834 shares during the quarter. Swedbank AB’s holdings in Ingevity were worth $658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NGVT. First Horizon Advisors Inc. raised its stake in Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after buying an additional 526 shares in the last quarter. Isthmus Partners LLC acquired a new stake in Ingevity during the second quarter valued at approximately $35,000. Blue Trust Inc. raised its position in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Ingevity during the 2nd quarter worth approximately $46,000. Finally, KBC Group NV raised its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NGVT stock opened at $47.73 on Thursday. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.07 and a beta of 1.60. The business has a 50 day simple moving average of $39.98 and a 200 day simple moving average of $41.85. 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 issued its quarterly earnings results 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. The firm had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. On average, equities research analysts anticipate that Ingevity Co. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

NGVT has been the topic of a number of research reports. BMO Capital Markets increased their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Oppenheimer decreased their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Ingevity has an average 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.