Ingevity Corporation (NYSE:NGVT) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in Ingevity Corporation (NYSE:NGVT) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,631 shares of the company’s stock after selling 1,642 shares during the period. Maryland State Retirement & Pension System’s holdings in Ingevity were worth $421,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NGVT. Wells Fargo & Company MN raised its holdings in Ingevity by 46.4% in the 4th quarter. Wells Fargo & Company MN now owns 37,055 shares of the company’s stock valued at $1,510,000 after acquiring an additional 11,742 shares during the last quarter. Invesco Ltd. raised its holdings in Ingevity by 4.4% in the 4th quarter. Invesco Ltd. now owns 172,065 shares of the company’s stock valued at $7,012,000 after acquiring an additional 7,216 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Ingevity in the 4th quarter valued at about $3,018,000. Barclays PLC raised its holdings in Ingevity by 3.8% in the 4th quarter. Barclays PLC now owns 69,272 shares of the company’s stock valued at $2,823,000 after acquiring an additional 2,511 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Ingevity by 5.8% in the 4th quarter. Marshall Wace LLP now owns 207,005 shares of the company’s stock valued at $8,435,000 after acquiring an additional 11,407 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

Ingevity stock opened at $54.71 on Friday. The firm has a 50 day simple moving average of $45.78 and a 200-day simple moving average of $42.39. Ingevity Corporation has a 1-year low of $28.49 and a 1-year high of $55.89. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -9.19 and a beta of 1.36.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.37. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. The business had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $378.70 million. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, analysts expect that Ingevity Corporation will post 4.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on NGVT shares. BMO Capital Markets set a $62.00 price objective on shares of Ingevity and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company increased their price target on shares of Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th.

Ingevity Company 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.