Rhumbline Advisers Has $4.61 Million Position in Ingevity Co. (NYSE:NGVT)

Rhumbline Advisers cut its position in shares of Ingevity Co. (NYSE:NGVT) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,521 shares of the company’s stock after selling 1,289 shares during the period. Rhumbline Advisers owned 0.29% of Ingevity worth $4,612,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NGVT. Vanguard Group Inc. grew its holdings in Ingevity by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock worth $182,143,000 after purchasing an additional 75,198 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ingevity by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after acquiring an additional 80,856 shares during the period. Brown Advisory Inc. increased its holdings in shares of Ingevity by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after acquiring an additional 52,187 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ingevity by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock valued at $22,853,000 after acquiring an additional 44,910 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Ingevity by 22.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 271,530 shares of the company’s stock valued at $12,822,000 after purchasing an additional 49,620 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NGVT has been the topic of several research reports. Oppenheimer decreased their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. BMO Capital Markets decreased their price target on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.33.

Ingevity Trading Up 8.3 %

NGVT stock opened at $38.56 on Monday. Ingevity Co. has a 52 week low of $32.21 and a 52 week high of $56.29. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. The company’s 50-day simple moving average is $39.69 and its 200 day simple moving average is $44.70. The company has a market capitalization of $1.40 billion, a PE ratio of -12.40 and a beta of 1.62.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Ingevity Co. will post 2.63 earnings per share 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.