Schechter Investment Advisors LLC Cuts Stake in Ingevity Co. (NYSE:NGVT)

Schechter Investment Advisors LLC reduced its stake in Ingevity Co. (NYSE:NGVT) by 20.4% during the fourth quarter, HoldingsChannel reports. The fund owned 19,432 shares of the company’s stock after selling 4,978 shares during the period. Schechter Investment Advisors LLC’s holdings in Ingevity were worth $918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Ingevity by 26,850.0% during the second quarter. Covestor Ltd now owns 539 shares of the company’s stock valued at $31,000 after purchasing an additional 537 shares in the last quarter. FMR LLC lifted its holdings in shares of Ingevity by 15.7% during the third quarter. FMR LLC now owns 2,394 shares of the company’s stock valued at $114,000 after purchasing an additional 324 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Ingevity by 936.4% during the first quarter. Rockefeller Capital Management L.P. now owns 2,933 shares of the company’s stock valued at $209,000 after purchasing an additional 2,650 shares in the last quarter. Pathstone Family Office LLC lifted its holdings in shares of Ingevity by 22.1% during the third quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after purchasing an additional 803 shares in the last quarter. Finally, Mariner LLC bought a new position in shares of Ingevity during the fourth quarter valued at $224,000. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating, According to MarketBeat, Ingevity currently has an average rating of “Hold” and a consensus price target of $48.75.

Ingevity Stock Performance

NGVT opened at $48.44 on Thursday. Ingevity Co. has a 12-month low of $36.66 and a 12-month high of $74.74. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -220.18 and a beta of 1.85. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. The company’s 50 day moving average is $45.39 and its 200 day moving average is $43.82.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. The firm had revenue of $371.70 million during the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, equities research analysts predict that Ingevity Co. will post 3.65 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.