Assenagon Asset Management S.A. Has $1.88 Million Stock Holdings in Ingevity Co. (NYSE:NGVT)

Assenagon Asset Management S.A. reduced its position in shares of Ingevity Co. (NYSE:NGVT) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 46,223 shares of the company’s stock after selling 777 shares during the period. Assenagon Asset Management S.A.’s holdings in Ingevity were worth $1,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGVT. Envestnet Asset Management Inc. boosted its stake in shares of Ingevity by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,145 shares of the company’s stock valued at $2,542,000 after purchasing an additional 2,262 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ingevity by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock valued at $36,977,000 after purchasing an additional 88,026 shares during the last quarter. Hsbc Holdings PLC boosted its position in Ingevity by 29.4% in the second quarter. Hsbc Holdings PLC now owns 34,890 shares of the company’s stock valued at $1,529,000 after buying an additional 7,935 shares in the last quarter. Sei Investments Co. grew its stake in shares of Ingevity by 23.9% during the second quarter. Sei Investments Co. now owns 162,627 shares of the company’s stock worth $7,108,000 after buying an additional 31,406 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Ingevity by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 74,305 shares of the company’s stock worth $3,248,000 after buying an additional 5,233 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Up 1.4 %

Shares of NGVT opened at $47.91 on Friday. The company has a market capitalization of $1.74 billion, a PE ratio of -3.08 and a beta of 1.65. The stock’s 50-day moving average price is $44.15 and its two-hundred day moving average price is $40.86. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. Ingevity Co. has a 12 month low of $30.90 and a 12 month high of $56.29.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, analysts anticipate that Ingevity Co. will post 2.75 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price objective on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

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.