Ingevity Co. (NYSE:NGVT) Stock Position Decreased by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its position in Ingevity Co. (NYSE:NGVT) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 282,008 shares of the company’s stock after selling 2,439 shares during the quarter. Leeward Investments LLC MA owned about 0.78% of Ingevity worth $13,452,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NGVT. Salem Investment Counselors Inc. grew its position in Ingevity by 17.2% in the first quarter. Salem Investment Counselors Inc. now owns 102,398 shares of the company’s stock worth $4,884,000 after acquiring an additional 15,000 shares in the last quarter. Moody National Bank Trust Division bought a new position in Ingevity during the first quarter valued at about $1,028,000. Quadrature Capital Ltd lifted its position in shares of Ingevity by 134.9% in the fourth quarter. Quadrature Capital Ltd now owns 22,227 shares of the company’s stock worth $1,050,000 after buying an additional 12,763 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ingevity by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock worth $176,760,000 after acquiring an additional 153,530 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Ingevity by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock valued at $101,446,000 after acquiring an additional 80,856 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NYSE:NGVT traded up $0.39 during trading on Thursday, hitting $42.75. 67,912 shares of the stock were exchanged, compared to its average volume of 262,877. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -13.75 and a beta of 1.66. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. Ingevity Co. has a 1-year low of $36.66 and a 1-year high of $66.18. The company’s fifty day simple moving average is $48.45 and its 200-day simple moving average is $46.54.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $340.10 million for the quarter, compared to the consensus estimate of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 earnings per share. Sell-side analysts expect that Ingevity Co. will post 3.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NGVT shares. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. BMO Capital Markets boosted their price objective on shares of Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Loop Capital raised their target price on shares of Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Finally, Oppenheimer boosted their target price on shares of Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

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.