Ingevity Co. (NYSE:NGVT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in Ingevity Co. (NYSE:NGVT) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 990,019 shares of the company’s stock after selling 38,666 shares during the period. Victory Capital Management Inc. owned approximately 2.72% of Ingevity worth $38,611,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. raised 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 worth $26,000 after purchasing an additional 526 shares during the last quarter. Blue Trust Inc. grew its position in Ingevity by 101.8% during 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 period. Headlands Technologies LLC purchased a new position in shares of Ingevity during the 2nd quarter valued at about $46,000. nVerses Capital LLC acquired a new position in shares of Ingevity in the 3rd quarter valued at about $113,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Ingevity by 27.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after buying an additional 831 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Price Performance

Shares of NYSE NGVT opened at $45.97 on Friday. 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 firm has a market cap of $1.67 billion, a PE ratio of -2.96 and a beta of 1.60. Ingevity Co. has a one year low of $30.90 and a one year high of $56.29. The firm has a fifty day moving average of $38.34 and a 200 day moving average of $42.24.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, research analysts predict that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NGVT shares. Wells Fargo & Company decreased their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, August 7th. Oppenheimer dropped their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, BMO Capital Markets upped their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and an average target price of $52.17.

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.