Ingevity Co. (NYSE:NGVT) Stake Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its stake in Ingevity Co. (NYSE:NGVTGet Rating) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,030 shares of the company’s stock after selling 270 shares during the period. Nisa Investment Advisors LLC’s holdings in Ingevity were worth $266,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Ingevity in the fourth quarter worth $6,810,000. Principal Financial Group Inc. increased its stake in Ingevity by 0.5% during the third quarter. Principal Financial Group Inc. now owns 193,436 shares of the company’s stock valued at $13,805,000 after purchasing an additional 966 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Ingevity by 28.9% during the fourth quarter. Qube Research & Technologies Ltd now owns 24,845 shares of the company’s stock valued at $1,781,000 after purchasing an additional 5,563 shares during the last quarter. Retirement Systems of Alabama increased its stake in Ingevity by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 51,444 shares of the company’s stock valued at $3,689,000 after purchasing an additional 273 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Ingevity by 1.9% during the third quarter. Janus Henderson Group PLC now owns 562,486 shares of the company’s stock valued at $40,145,000 after purchasing an additional 10,561 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Several research firms have weighed in on NGVT. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Sunday, February 27th. StockNews.com downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $88.20.

NGVT stock opened at $61.20 on Friday. The company has a market capitalization of $2.39 billion, a P/E ratio of 20.89 and a beta of 2.07. The company has a 50-day simple moving average of $64.05 and a 200 day simple moving average of $70.45. Ingevity Co. has a fifty-two week low of $56.31 and a fifty-two week high of $89.55. The company has a quick ratio of 1.80, a current ratio of 2.70 and a debt-to-equity ratio of 1.86.

Ingevity (NYSE:NGVTGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. The business had revenue of $336.00 million during the quarter, compared to the consensus estimate of $289.44 million. Ingevity had a net margin of 8.49% and a return on equity of 31.41%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. Equities analysts anticipate that Ingevity Co. will post 5.72 EPS for the current year.

About Ingevity (Get Rating)

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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