Inspire Investing LLC Decreases Stake in Ingevity Co. (NYSE:NGVT)

Inspire Investing LLC lessened its stake in shares of Ingevity Co. (NYSE:NGVT) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,836 shares of the company’s stock after selling 618 shares during the quarter. Inspire Investing LLC’s holdings in Ingevity were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NGVT. Envestnet Asset Management Inc. boosted its position in Ingevity by 4.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,145 shares of the company’s stock valued at $2,542,000 after buying an additional 2,262 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ingevity by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after purchasing an additional 88,026 shares during the period. Sei Investments Co. grew its stake in shares of Ingevity by 23.9% in the second quarter. Sei Investments Co. now owns 162,627 shares of the company’s stock worth $7,108,000 after purchasing an additional 31,406 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Ingevity by 488.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,369 shares of the company’s stock valued at $1,021,000 after purchasing an additional 19,398 shares during the period. Finally, AXA S.A. bought a new position in Ingevity during the 2nd quarter valued at approximately $408,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Price Performance

NYSE NGVT opened at $46.82 on Monday. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The stock has a 50-day moving average of $44.22 and a 200 day moving average of $40.94. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.01 and a beta of 1.65.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data 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. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that Ingevity Co. will post 2.75 EPS 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.