Handelsbanken Fonder AB trimmed its position in Ingevity Co. (NYSE:NGVT – Get Rating) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,637 shares of the company's stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB's holdings in Ingevity were worth $489,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Ingevity during the fourth quarter worth $53,000. Parallel Advisors LLC grew its stake in shares of Ingevity by 521.7% during the first quarter. Parallel Advisors LLC now owns 1,088 shares of the company's stock worth $71,000 after buying an additional 913 shares during the last quarter. Howe & Rusling Inc. grew its stake in shares of Ingevity by 11.9% during the first quarter. Howe & Rusling Inc. now owns 3,613 shares of the company's stock worth $231,000 after buying an additional 385 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Ingevity during the first quarter worth $233,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Ingevity by 32.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,668 shares of the company's stock worth $264,000 after purchasing an additional 907 shares during the period. 89.41% of the stock is owned by institutional investors.
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Ingevity Price Performance
Shares of NYSE NGVT opened at $69.46 on Friday. The firm's 50-day moving average price is $67.17 and its 200-day moving average price is $65.84. Ingevity Co. has a 1-year low of $56.31 and a 1-year high of $83.65. The firm has a market capitalization of $2.69 billion, a P/E ratio of 18.67 and a beta of 1.85. The company has a current ratio of 2.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.80.
Ingevity (NYSE:NGVT – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.05. The firm had revenue of $419.90 million for the quarter, compared to analyst estimates of $406.50 million. Ingevity had a net
margin of 9.61% and a return on equity of 33.97%. Equities research analysts anticipate that Ingevity Co. will post 6.05 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a report on Friday, August 5th. TheStreet upgraded shares of Ingevity from a "c" rating to a "b-" rating in a report on Friday, May 27th.
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
- Get a free copy of the StockNews.com research report on Ingevity (NGVT)
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