Congress Wealth Management LLC DE Lowers Stock Position in Ingevity Co. (NYSE:NGVT)

Congress Wealth Management LLC DE trimmed its stake in Ingevity Co. (NYSE:NGVT) by 50.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,065 shares of the company’s stock after selling 7,065 shares during the period. Congress Wealth Management LLC DE’s holdings in Ingevity were worth $288,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NGVT. KBC Group NV increased its holdings in Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after purchasing an additional 433 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity in the 4th quarter valued at $187,000. Teacher Retirement System of Texas acquired a new position in Ingevity during the 4th quarter worth about $237,000. Hennion & Walsh Asset Management Inc. purchased a new position in Ingevity during the 4th quarter valued at about $239,000. Finally, XTX Topco Ltd acquired a new position in Ingevity in the 3rd quarter valued at about $260,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Down 0.3 %

Shares of Ingevity stock opened at $39.62 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.30. The company has a market capitalization of $1.44 billion, a P/E ratio of -3.35 and a beta of 1.53. The company has a 50 day moving average of $45.16 and a 200 day moving average of $42.54.

Ingevity (NYSE:NGVT) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. As a group, research analysts forecast that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NGVT. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.17.

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.