Ingevity Co. (NYSE:NGVT) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in Ingevity Co. (NYSE:NGVT) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,995 shares of the company’s stock after selling 627 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Ingevity worth $1,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ingevity by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after buying an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Ingevity in the 4th quarter worth $239,000. Proficio Capital Partners LLC purchased a new position in Ingevity in the 4th quarter valued at about $863,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ingevity during the fourth quarter valued at about $3,018,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

NYSE NGVT opened at $31.49 on Friday. The company has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $41.87. Ingevity Co. has a 52 week low of $28.49 and a 52 week high of $56.30. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -2.66 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. The business had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Analysts forecast that Ingevity Co. will post 4.45 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on NGVT shares. StockNews.com lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Ingevity currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

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.