Ingevity Co. (NYSE:NGVT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its holdings in shares of Ingevity Co. (NYSE:NGVT) by 27.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,805 shares of the company’s stock after selling 10,136 shares during the period. Jane Street Group LLC owned 0.07% of Ingevity worth $1,045,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Villanova Investment Management Co LLC grew its position in Ingevity by 30.4% in the third quarter. Villanova Investment Management Co LLC now owns 48,459 shares of the company’s stock worth $1,890,000 after acquiring an additional 11,305 shares during the period. Vision One Management Partners LP purchased a new position in shares of Ingevity during the 3rd quarter worth $4,388,000. State Street Corp increased its position in shares of Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after purchasing an additional 198,300 shares during the last quarter. Harvey Partners LLC purchased a new stake in Ingevity in the 3rd quarter valued at about $7,878,000. Finally, Edgestream Partners L.P. acquired a new position in Ingevity in the third quarter valued at about $288,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Stock Down 1.1 %

Ingevity stock opened at $40.15 on Tuesday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -2.59 and a beta of 1.62. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The stock has a 50 day moving average of $43.75 and a two-hundred day moving average of $41.06. Ingevity Co. has a twelve month low of $30.90 and a twelve month high of $56.29.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. The firm had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. Ingevity’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. As a group, research analysts expect 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.