Bank of New York Mellon Corp decreased its position in Ingevity Co. (NYSE:NGVT – Get Rating) by 9.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 581,743 shares of the company's stock after selling 60,006 shares during the period. Bank of New York Mellon Corp owned about 1.50% of Ingevity worth $37,273,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in Ingevity by 32.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,668 shares of the company's stock worth $264,000 after buying an additional 907 shares in the last quarter. First Trust Advisors LP lifted its position in Ingevity by 8.2% in the 4th quarter. First Trust Advisors LP now owns 51,757 shares of the company's stock worth $3,711,000 after buying an additional 3,933 shares in the last quarter. Raymond James & Associates lifted its position in Ingevity by 16.3% in the 4th quarter. Raymond James & Associates now owns 40,228 shares of the company's stock worth $2,884,000 after buying an additional 5,648 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Ingevity by 146.9% in the 4th quarter. BNP Paribas Arbitrage SA now owns 16,124 shares of the company's stock worth $1,156,000 after buying an additional 9,594 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Ingevity in the 4th quarter worth approximately $434,000. Institutional investors and hedge funds own 89.41% of the company's stock.
Get Ingevity alerts:Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 5th. TheStreet upgraded shares of Ingevity from a "c" rating to a "b-" rating in a research report on Friday, May 27th.
Ingevity Stock Performance
NGVT opened at $66.17 on Wednesday. The company has a market cap of $2.56 billion, a PE ratio of 17.79 and a beta of 1.81. The stock has a 50-day moving average of $67.17 and a 200-day moving average of $65.84. Ingevity Co. has a 52-week low of $56.31 and a 52-week high of $83.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.50 and a current ratio of 2.54.Ingevity (NYSE:NGVT – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. The company had revenue of $419.90 million during the quarter, compared to the consensus estimate of $406.50 million. Ingevity had a return on equity of 33.97% and a net margin of 9.61%. As a group, equities research analysts forecast that Ingevity Co. will post 6.05 earnings per share 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.
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