PNC Financial Services Group Inc. Has $606,000 Stock Position in Ingevity Co. (NYSE:NGVT)

PNC Financial Services Group Inc. lowered its holdings in shares of Ingevity Co. (NYSE:NGVT) by 12.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,835 shares of the company’s stock after selling 1,787 shares during the period. PNC Financial Services Group Inc.’s holdings in Ingevity were worth $606,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Hsbc Holdings PLC increased its holdings in Ingevity by 48.5% in the 3rd quarter. Hsbc Holdings PLC now owns 8,658 shares of the company’s stock worth $412,000 after purchasing an additional 2,827 shares in the last quarter. Stifel Financial Corp increased its holdings in Ingevity by 66.9% in the 3rd quarter. Stifel Financial Corp now owns 53,020 shares of the company’s stock worth $2,524,000 after purchasing an additional 21,260 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Ingevity by 112.6% in the 3rd quarter. Natixis Advisors L.P. now owns 28,099 shares of the company’s stock worth $1,338,000 after purchasing an additional 14,881 shares in the last quarter. Trexquant Investment LP acquired a new position in Ingevity in the 3rd quarter worth about $525,000. Finally, Synovus Financial Corp increased its holdings in Ingevity by 42.7% in the 3rd quarter. Synovus Financial Corp now owns 7,349 shares of the company’s stock worth $350,000 after purchasing an additional 2,198 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price target on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. BMO Capital Markets increased their price target on Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Loop Capital increased their price target on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ingevity has an average rating of “Hold” and an average price target of $55.00.

Ingevity Stock Up 1.3 %

Shares of Ingevity stock opened at $44.24 on Thursday. Ingevity Co. has a one year low of $36.66 and a one year high of $66.18. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98. The stock’s 50-day moving average is $48.90 and its 200 day moving average is $46.57. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -14.23 and a beta of 1.72.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The company had revenue of $340.10 million for the quarter, compared to analyst estimates of $319.15 million. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. Equities research analysts anticipate that Ingevity Co. will post 3.63 EPS for the current year.

Ingevity 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.