Guggenheim Capital LLC Cuts Position in Ingevity Co. (NYSE:NGVT)

Guggenheim Capital LLC lessened its holdings in Ingevity Co. (NYSE:NGVT) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,083 shares of the company’s stock after selling 813 shares during the period. Guggenheim Capital LLC’s holdings in Ingevity were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. KBC Group NV increased its stake in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after purchasing an additional 433 shares in the last quarter. Arizona State Retirement System increased its stake in Ingevity by 6.1% during the 4th quarter. Arizona State Retirement System now owns 10,550 shares of the company’s stock worth $430,000 after buying an additional 611 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Ingevity by 9.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company’s stock worth $307,000 after buying an additional 628 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its stake in Ingevity by 4.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 16,150 shares of the company’s stock worth $658,000 after buying an additional 750 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Ingevity by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,097 shares of the company’s stock worth $493,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NGVT. Wells Fargo & Company cut 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, April 9th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Finally, StockNews.com cut Ingevity from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ingevity presently has an average rating of “Moderate Buy” and a consensus target price of $52.20.

Ingevity Trading Up 0.0 %

Shares of Ingevity stock opened at $32.86 on Monday. The stock has a market cap of $1.20 billion, a P/E ratio of -2.78 and a beta of 1.54. The stock’s 50 day simple moving average is $39.64 and its 200-day simple moving average is $41.81. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Analysts predict that Ingevity Co. will post 4.45 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.