EMC Capital Management Reduces Stock Holdings in Ingevity Co. (NYSE:NGVT)

EMC Capital Management lessened its stake in Ingevity Co. (NYSE:NGVT) by 85.5% in the fourth quarter, Holdings Channel reports. The fund owned 4,814 shares of the company’s stock after selling 28,279 shares during the quarter. EMC Capital Management’s holdings in Ingevity were worth $196,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NGVT. First Horizon Advisors Inc. increased its position in shares of Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV grew its stake in Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares in the last quarter. Blue Trust Inc. increased its holdings in Ingevity by 179.6% during the 3rd quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after purchasing an additional 1,609 shares during the last quarter. nVerses Capital LLC purchased a new stake in Ingevity during the 3rd quarter worth approximately $113,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Ingevity by 27.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock valued at $151,000 after purchasing an additional 831 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

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

Ingevity Stock Up 0.4 %

NGVT stock opened at $45.85 on Friday. The stock’s 50 day simple moving average is $44.15 and its 200 day simple moving average is $41.04. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last issued 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. The firm had revenue of $376.90 million for the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. Ingevity’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. On average, equities research analysts expect that Ingevity Co. will post 2.75 earnings per share for the current year.

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.