Victory Capital Management Inc. Sells 16,053 Shares of Ingevity Co. (NYSE:NGVT)

Victory Capital Management Inc. lowered its holdings in shares of Ingevity Co. (NYSE:NGVT) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 973,966 shares of the company’s stock after selling 16,053 shares during the period. Victory Capital Management Inc. owned about 2.68% of Ingevity worth $39,689,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NGVT. Segall Bryant & Hamill LLC raised its stake in shares of Ingevity by 33.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after acquiring an additional 297,135 shares during the last quarter. Harvey Partners LLC bought a new position in Ingevity during the third quarter worth $7,878,000. State Street Corp raised its stake in Ingevity by 14.7% during the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after buying an additional 198,300 shares during the last quarter. Royce & Associates LP raised its stake in Ingevity by 23.3% during the third quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock worth $36,413,000 after buying an additional 176,447 shares during the last quarter. Finally, Vision One Management Partners LP bought a new position in Ingevity during the third quarter worth $4,388,000. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Trading Up 1.5 %

NGVT opened at $47.35 on Friday. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The company has a market cap of $1.72 billion, a P/E ratio of -4.00 and a beta of 1.53. The company has a fifty day moving average price of $44.33 and a two-hundred day moving average price of $41.92.

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

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.