Schechter Investment Advisors LLC Has $918,000 Stock Holdings in Ingevity Co. (NYSE:NGVT)

Schechter Investment Advisors LLC reduced its stake in shares of Ingevity Co. (NYSE:NGVT) by 20.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,432 shares of the company’s stock after selling 4,978 shares during the period. Schechter Investment Advisors LLC owned approximately 0.05% of Ingevity worth $918,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NGVT. BlackRock Inc. raised its holdings in Ingevity by 29.8% during the 2nd quarter. BlackRock Inc. now owns 5,682,753 shares of the company’s stock worth $330,509,000 after buying an additional 1,303,485 shares during the period. Norges Bank acquired a new stake in Ingevity during the 4th quarter worth approximately $31,974,000. Inclusive Capital Partners L.P. raised its holdings in Ingevity by 11.6% during the 2nd quarter. Inclusive Capital Partners L.P. now owns 2,401,405 shares of the company’s stock worth $139,666,000 after buying an additional 250,000 shares during the period. First Eagle Investment Management LLC acquired a new stake in Ingevity during the 3rd quarter worth approximately $7,463,000. Finally, Southernsun Asset Management LLC raised its holdings in Ingevity by 19.7% during the 2nd quarter. Southernsun Asset Management LLC now owns 827,295 shares of the company’s stock worth $48,115,000 after buying an additional 136,423 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised their price target on shares of Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Ingevity currently has an average rating of “Hold” and a consensus price target of $48.75.

Ingevity Price Performance

Shares of NGVT opened at $48.44 on Thursday. The stock has a market capitalization of $1.76 billion, a P/E ratio of -220.18 and a beta of 1.85. Ingevity Co. has a twelve month low of $36.66 and a twelve month high of $74.74. The company has a 50 day moving average of $45.39 and a 200-day moving average of $43.82. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 2.19.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. The business had revenue of $371.70 million for the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, equities research analysts forecast that Ingevity Co. will post 3.65 EPS 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.