US Bancorp DE Decreases Stock Holdings in Ingevity Co. (NYSE:NGVT)

US Bancorp DE lowered its holdings in Ingevity Co. (NYSE:NGVT) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,736 shares of the company’s stock after selling 314 shares during the quarter. US Bancorp DE’s holdings in Ingevity were worth $68,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new position in Ingevity during the first quarter valued at $522,000. Swedbank AB purchased a new stake in Ingevity in the 1st quarter worth approximately $3,372,000. American Century Companies Inc. increased its stake in shares of Ingevity by 7.6% in the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in Ingevity during the second quarter valued at about $748,000. Finally, Sei Investments Co. lifted its holdings in Ingevity by 9.8% in the 1st quarter. Sei Investments Co. now owns 131,221 shares of the company’s stock worth $6,259,000 after purchasing an additional 11,699 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ingevity Stock Up 1.7 %

Shares of NYSE NGVT opened at $45.97 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of -2.96 and a beta of 1.60. The firm has a 50-day simple moving average of $38.34 and a two-hundred day simple moving average of $42.24. Ingevity Co. has a 1 year low of $30.90 and a 1 year 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter in the previous year, the business earned $1.21 EPS. Ingevity’s revenue was down 15.5% compared to the same quarter last year. Research analysts anticipate that Ingevity Co. will post 2.55 earnings per share for the current year.

About Ingevity

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.