Quadrant Capital Group LLC Lowers Stake in Ingevity Co. (NYSE:NGVT)

Quadrant Capital Group LLC decreased its position in Ingevity Co. (NYSE:NGVT) by 49.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 708 shares of the company’s stock after selling 705 shares during the period. Quadrant Capital Group LLC’s holdings in Ingevity were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in Ingevity by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock valued at $91,279,000 after acquiring an additional 115,581 shares in the last quarter. State Street Corp boosted its position in Ingevity by 14.7% in the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after buying an additional 198,300 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ingevity by 37.7% in the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after acquiring an additional 398,800 shares during the period. Segall Bryant & Hamill LLC grew its position in Ingevity by 8.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock worth $52,457,000 after purchasing an additional 101,866 shares during the period. Finally, Royce & Associates LP grew its holdings in Ingevity by 22.4% during the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after acquiring an additional 208,921 shares during the period. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 2.1 %

Shares of NGVT opened at $31.92 on Friday. The company’s 50-day moving average price is $42.19 and its 200 day moving average price is $42.11. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 12-month low of $28.49 and a 12-month high of $56.30. The firm has a market cap of $1.16 billion, a P/E ratio of -2.70 and a beta of 1.54.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. The company had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, sell-side analysts forecast that Ingevity Co. will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on NGVT shares. StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingevity presently has an average rating of “Moderate Buy” and an average price target of $53.83.

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.