Ingevity Co. (NYSE:NGVT) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lowered its stake in shares of Ingevity Co. (NYSE:NGVT) by 67.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,681 shares of the company’s stock after selling 13,737 shares during the quarter. Quadrature Capital Ltd’s holdings in Ingevity were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NGVT. First Horizon Advisors Inc. boosted its holdings in shares of Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after acquiring an additional 526 shares during the period. Isthmus Partners LLC acquired a new position in Ingevity during the 2nd quarter valued at about $35,000. Blue Trust Inc. grew its position in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ingevity in the second quarter valued at approximately $46,000. Finally, KBC Group NV raised its holdings in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after buying an additional 530 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $46.42 on Wednesday. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The firm has a market cap of $1.69 billion, a P/E ratio of -2.99 and a beta of 1.62. The stock has a fifty day moving average price of $41.56 and a two-hundred day moving average price of $41.53. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same period in the previous year, the company earned $1.21 earnings per share. Ingevity’s revenue was down 15.5% compared to the same quarter last year. Research analysts forecast that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.