Amalgamated Bank reduced its position in Ingevity Co. (NYSE:NGVT – Get Rating) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,777 shares of the company's stock after selling 1,309 shares during the quarter. Amalgamated Bank owned 0.07% of Ingevity worth $1,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGVT. Point72 Hong Kong Ltd purchased a new position in shares of Ingevity in the 4th quarter worth about $53,000. Parallel Advisors LLC lifted its stake in shares of Ingevity by 521.7% in the 1st quarter. Parallel Advisors LLC now owns 1,088 shares of the company's stock valued at $71,000 after acquiring an additional 913 shares during the last quarter. Tompkins Financial Corp bought a new stake in shares of Ingevity in the 1st quarter valued at about $96,000. Howe & Rusling Inc. lifted its stake in shares of Ingevity by 11.9% in the 1st quarter. Howe & Rusling Inc. now owns 3,613 shares of the company's stock valued at $231,000 after acquiring an additional 385 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Ingevity in the 1st quarter valued at about $233,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 5th.

Ingevity Trading Down 1.3 %

Ingevity (NYSE:NGVT – Get Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. Ingevity had a return on equity of 33.97% and a net margin of 9.61%. The business had revenue of $419.90 million during the quarter, compared to analyst estimates of $406.50 million. Equities research analysts anticipate that Ingevity Co. will post 6.05 EPS for the current fiscal year.

About Ingevity

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Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

Further Reading

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