Wealth Enhancement Advisory Services LLC Sells 1,492 Shares of Ingevity Co. (NYSE:NGVT)

Wealth Enhancement Advisory Services LLC decreased its position in Ingevity Co. (NYSE:NGVT) by 20.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,957 shares of the company’s stock after selling 1,492 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ingevity were worth $232,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares during the period. Blue Trust Inc. lifted its holdings in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares during the period. Headlands Technologies LLC purchased a new position in shares of Ingevity in the 2nd quarter worth $46,000. nVerses Capital LLC bought a new stake in shares of Ingevity in the third quarter worth $113,000. Finally, Everence Capital Management Inc. purchased a new stake in Ingevity during the second quarter valued at $180,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Ingevity Stock Performance

Shares of NYSE NGVT opened at $47.51 on Tuesday. The stock has a market cap of $1.73 billion, a PE ratio of -3.06 and a beta of 1.60. Ingevity Co. has a 1 year low of $30.90 and a 1 year high of $56.29. The firm has a fifty day moving average price of $37.64 and a 200-day moving average price of $42.31. 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 posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million for the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Equities analysts anticipate that Ingevity Co. will post 2.55 earnings per share for the current fiscal 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.