Blue Trust Inc. Sells 900 Shares of Ingevity Co. (NYSE:NGVT)

Blue Trust Inc. decreased its holdings in shares of Ingevity Co. (NYSE:NGVT) by 35.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,605 shares of the company’s stock after selling 900 shares during the period. Blue Trust Inc.’s holdings in Ingevity were worth $65,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NGVT. First Horizon Advisors Inc. raised its stake in shares of Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares in the last quarter. KBC Group NV raised its position in Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ingevity by 27.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after buying an additional 831 shares during the period. Empowered Funds LLC bought a new position in shares of Ingevity during the 4th quarter worth $187,000. Finally, Aigen Investment Management LP purchased a new position in shares of Ingevity during the third quarter valued at $231,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Up 0.2 %

Shares of Ingevity stock opened at $46.11 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The company has a market cap of $1.68 billion, a P/E ratio of -3.89 and a beta of 1.64. The firm’s 50 day moving average price is $43.36 and its 200-day moving average price is $41.25. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.29.

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, topping analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The business had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. On average, sell-side analysts predict that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Ingevity from $61.00 to $62.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

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.