The Manufacturers Life Insurance Company Sells 267 Shares of Ingevity Co. (NYSE:NGVT)

The Manufacturers Life Insurance Company decreased its holdings in shares of Ingevity Co. (NYSE:NGVT) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,564 shares of the company’s stock after selling 267 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Ingevity worth $724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its holdings in Ingevity by 33.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after purchasing an additional 297,135 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Ingevity in the second quarter valued at approximately $11,416,000. Royce & Associates LP raised its holdings in Ingevity by 23.3% in the 3rd quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after buying an additional 176,447 shares during the last quarter. Millennium Management LLC boosted its position in Ingevity by 46.9% during the 2nd quarter. Millennium Management LLC now owns 504,552 shares of the company’s stock worth $22,054,000 after buying an additional 161,014 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Ingevity by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after acquiring an additional 88,026 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Separately, 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 report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Stock Down 2.6 %

Ingevity stock opened at $45.83 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -2.95 and a beta of 1.62. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a 50 day moving average price of $42.21 and a two-hundred day moving average price of $41.60.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.21 earnings per share. Equities analysts predict that Ingevity Co. will post 2.55 EPS 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.