Ingevity Co. (NYSE:NGVT) Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its position in shares of Ingevity Co. (NYSE:NGVT) by 40.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 219,146 shares of the company’s stock after selling 147,825 shares during the quarter. Marshall Wace LLP’s holdings in Ingevity were worth $9,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NGVT. First Horizon Advisors Inc. boosted its position in Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Ingevity by 40,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after purchasing an additional 815 shares during the last quarter. Blue Trust Inc. grew its position in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares during the period. Headlands Technologies LLC acquired a new position in Ingevity in the second quarter valued at $46,000. Finally, Everence Capital Management Inc. acquired a new position in Ingevity in the second quarter valued at $180,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NGVT has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, August 5th. Oppenheimer dropped their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.33.

Ingevity Stock Performance

NYSE:NGVT opened at $40.42 on Monday. The firm’s fifty day simple moving average is $38.83 and its 200 day simple moving average is $44.26. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. Ingevity Co. has a twelve month low of $32.21 and a twelve month high of $56.29. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -13.00 and a beta of 1.62.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. Ingevity’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities research analysts expect that Ingevity Co. will post 2.63 earnings per share 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.