Schechter Investment Advisors LLC Sells 4,978 Shares of Ingevity Co. (NYSE:NGVT)

Schechter Investment Advisors LLC lowered its stake in Ingevity Co. (NYSE:NGVT) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,432 shares of the company’s stock after selling 4,978 shares during the quarter. Schechter Investment Advisors LLC owned 0.05% of Ingevity worth $918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Inclusive Capital Partners L.P. lifted its position in Ingevity by 11.6% in the second quarter. Inclusive Capital Partners L.P. now owns 2,401,405 shares of the company’s stock valued at $139,666,000 after purchasing an additional 250,000 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Ingevity by 11.5% during the third quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after buying an additional 42,408 shares during the period. First Hawaiian Bank increased its stake in shares of Ingevity by 2.5% during the fourth quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock valued at $480,000 after buying an additional 250 shares during the period. Victory Capital Management Inc. increased its stake in shares of Ingevity by 2.7% during the third quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock valued at $56,029,000 after buying an additional 30,632 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in shares of Ingevity during the third quarter valued at approximately $7,463,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

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

Ingevity Stock Up 2.8 %

Shares of NGVT stock opened at $48.44 on Thursday. Ingevity Co. has a twelve month low of $36.66 and a twelve month high of $74.74. The business’s fifty day moving average is $45.39 and its 200 day moving average is $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 released its earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The firm had revenue of $371.70 million for the quarter, compared to analysts’ expectations of $336.74 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Ingevity Co. will post 3.65 EPS for the current fiscal year.

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.