Inclusive Capital Partners L.P. Has $26.05 Million Holdings in Ingevity Co. (NYSE:NGVT)

Inclusive Capital Partners L.P. lessened its stake in shares of Ingevity Co. (NYSE:NGVT) by 42.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 667,930 shares of the company’s stock after selling 483,475 shares during the period. Ingevity makes up approximately 100.0% of Inclusive Capital Partners L.P.’s portfolio, making the stock its biggest position. Inclusive Capital Partners L.P.’s holdings in Ingevity were worth $26,049,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its position in Ingevity by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after acquiring an additional 53,839 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Ingevity during the second quarter valued at about $748,000. ClariVest Asset Management LLC bought a new stake in shares of Ingevity during the second quarter worth about $3,550,000. Jade Capital Advisors LLC acquired a new position in shares of Ingevity in the third quarter valued at approximately $1,170,000. Finally, Burney Co. raised its holdings in Ingevity by 8.2% in the 2nd quarter. Burney Co. now owns 121,428 shares of the company’s stock valued at $5,308,000 after buying an additional 9,160 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. BMO Capital Markets boosted their price objective on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ingevity has an average rating of “Moderate Buy” and an average target price of $52.17.

Ingevity Stock Down 2.4 %

Shares of Ingevity stock traded down $1.20 during trading on Tuesday, reaching $48.51. 8,076 shares of the company traded hands, compared to its average volume of 265,871. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The firm has a market capitalization of $1.76 billion, a PE ratio of -3.21 and a beta of 1.62. The company has a 50 day moving average price of $40.65 and a 200-day moving average price of $41.66. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. The firm had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. As a group, equities research analysts expect that Ingevity Co. will post 2.55 earnings per share for the current fiscal year.

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.