Ingevity Co. (NYSE:NGVT) CAO Phillip John Platt Sells 8,847 Shares of Stock

Ingevity Co. (NYSE:NGVT – Get Rating) CAO Phillip John Platt sold 8,847 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $81.71, for a total value of $722,888.37. Following the completion of the transaction, the chief accounting officer now directly owns 5,534 shares in the company, valued at approximately $452,183.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ingevity Trading Down 0.5 %

Shares of NYSE NGVT opened at $81.25 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.24 and a debt-to-equity ratio of 2.11. The business has a fifty day simple moving average of $81.51 and a two-hundred day simple moving average of $73.85. The firm has a market cap of $3.02 billion, a PE ratio of 14.85 and a beta of 1.83. Ingevity Co. has a twelve month low of $56.31 and a twelve month high of $90.81.

Ingevity (NYSE:NGVT – Get Rating) last issued its earnings results on Monday, February 27th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The firm had revenue of $383.60 million for the quarter, compared to the consensus estimate of $395.77 million. Ingevity had a net margin of 12.68% and a return on equity of 34.63%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Analysts expect that Ingevity Co. will post 6.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Point72 Middle East FZE bought a new position in shares of Ingevity in the 4th quarter worth $268,000. Howe & Rusling Inc. grew its stake in Ingevity by 3.0% during the 4th quarter. Howe & Rusling Inc. now owns 4,363 shares of the company’s stock worth $307,000 after buying an additional 129 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Ingevity during the 4th quarter worth $300,000. Morgan Stanley grew its stake in Ingevity by 9.0% during the 4th quarter. Morgan Stanley now owns 301,714 shares of the company’s stock worth $21,253,000 after buying an additional 25,033 shares during the last quarter. Finally, Man Group plc grew its stake in Ingevity by 5.9% during the 4th quarter. Man Group plc now owns 137,460 shares of the company’s stock worth $9,683,000 after buying an additional 7,676 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NGVT. Wells Fargo & Company lifted their target price on Ingevity from $76.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 1st. Loop Capital upgraded Ingevity from a “hold” rating to a “buy” rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Thursday, February 2nd. Finally, StockNews.com cut Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Ingevity Company Profile

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Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.