Leeward Investments LLC MA Sells 11,739 Shares of Ingevity Co. (NYSE:NGVT)

Leeward Investments LLC MA lessened its stake in shares of Ingevity Co. (NYSE:NGVT) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,447 shares of the company’s stock after selling 11,739 shares during the quarter. Leeward Investments LLC MA owned about 0.79% of Ingevity worth $13,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Ingevity by 3.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,067,523 shares of the company’s stock valued at $98,435,000 after acquiring an additional 73,412 shares in the last quarter. Victory Capital Management Inc. increased its stake in Ingevity by 2.7% in the 3rd 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 last quarter. Brown Advisory Inc. increased its stake in Ingevity by 2.8% in the 3rd quarter. Brown Advisory Inc. now owns 741,755 shares of the company’s stock valued at $35,315,000 after buying an additional 20,376 shares during the last quarter. American Century Companies Inc. increased its stake in Ingevity by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock valued at $23,541,000 after buying an additional 62,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ingevity by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,066 shares of the company’s stock valued at $20,904,000 after buying an additional 25,550 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NGVT. Wells Fargo & Company increased their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.40.

Ingevity Trading Up 1.3 %

Shares of NGVT stock opened at $48.51 on Friday. The company has a 50 day moving average of $46.44 and a 200-day moving average of $43.77. 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 Co. has a 12-month low of $36.66 and a 12-month high of $72.76. The firm has a market cap of $1.76 billion, a P/E ratio of -220.50 and a beta of 1.85.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company had revenue of $371.70 million during the quarter, compared to analyst estimates of $336.74 million. During the same quarter last year, the business posted $0.57 EPS. Ingevity’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Ingevity Co. will post 3.69 earnings per share for the current 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.