New York State Teachers Retirement System Sells 323 Shares of Ingevity Co. (NYSE:NGVT)

New York State Teachers Retirement System lessened its holdings in shares of Ingevity Co. (NYSE:NGVT) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,555 shares of the company’s stock after selling 323 shares during the quarter. New York State Teachers Retirement System’s holdings in Ingevity were worth $2,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Ingevity by 29.8% in the 2nd quarter. BlackRock Inc. now owns 5,682,753 shares of the company’s stock valued at $330,509,000 after buying an additional 1,303,485 shares during the last quarter. Norges Bank bought a new position in shares of Ingevity during the fourth quarter worth approximately $31,974,000. First Eagle Investment Management LLC acquired a new stake in Ingevity during the 3rd quarter worth approximately $7,463,000. Thrivent Financial for Lutherans boosted its stake in Ingevity by 10.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,141,200 shares of the company’s stock valued at $81,618,000 after purchasing an additional 108,397 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Ingevity in the 3rd quarter valued at $5,090,000. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.75.

Ingevity Trading Down 0.7 %

Shares of NGVT stock opened at $44.94 on Tuesday. The stock has a 50 day simple moving average of $46.20 and a 200 day simple moving average of $43.60. Ingevity Co. has a 1 year low of $36.66 and a 1 year high of $73.43. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. The stock has a market cap of $1.63 billion, a P/E ratio of -204.27 and a beta of 1.85.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.34. The company had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. Ingevity’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. On average, research analysts predict that Ingevity Co. will post 3.65 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.