Corient Private Wealth LLC Sells 4,600 Shares of Ingevity Co. (NYSE:NGVT)

Corient Private Wealth LLC lessened its position in Ingevity Co. (NYSE:NGVT) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,815 shares of the company’s stock after selling 4,600 shares during the period. Corient Private Wealth LLC’s holdings in Ingevity were worth $278,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after acquiring an additional 208,921 shares during the period. Natixis Advisors LLC lifted its holdings in Ingevity by 13.0% during the 4th quarter. Natixis Advisors LLC now owns 31,534 shares of the company’s stock valued at $1,285,000 after purchasing an additional 3,626 shares during the last quarter. Swiss National Bank increased its holdings in shares of Ingevity by 6.1% in the fourth quarter. Swiss National Bank now owns 71,490 shares of the company’s stock valued at $2,913,000 after purchasing an additional 4,100 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Ingevity by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 7,538 shares of the company’s stock valued at $307,000 after purchasing an additional 628 shares during the period. Finally, Isthmus Partners LLC raised its position in shares of Ingevity by 3.5% in the fourth quarter. Isthmus Partners LLC now owns 77,484 shares of the company’s stock valued at $3,157,000 after purchasing an additional 2,653 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Performance

NYSE NGVT opened at $39.64 on Tuesday. The firm has a 50-day moving average price of $45.01 and a two-hundred day moving average price of $42.63. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.30. The company has a market capitalization of $1.44 billion, a P/E ratio of -3.35 and a beta of 1.53. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.66. The business had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current year.

Analyst Ratings Changes

NGVT has been the topic of a number of research reports. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their price target for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com downgraded Ingevity from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ingevity currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

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.