Bank of Montreal Can Sells 27,773 Shares of Ingevity Co. (NYSE:NGVT)

Bank of Montreal Can lowered its holdings in shares of Ingevity Co. (NYSE:NGVT) by 71.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,350 shares of the company’s stock after selling 27,773 shares during the period. Bank of Montreal Can’s holdings in Ingevity were worth $463,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NGVT. Barclays PLC grew its stake in shares of Ingevity by 245.3% in the 3rd quarter. Barclays PLC now owns 66,761 shares of the company’s stock worth $2,603,000 after buying an additional 47,429 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after acquiring an additional 33,973 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Ingevity by 22.0% in the third quarter. Synovus Financial Corp now owns 13,697 shares of the company’s stock worth $534,000 after acquiring an additional 2,471 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after acquiring an additional 23,460 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in shares of Ingevity by 12.4% in the 4th quarter. Moody National Bank Trust Division now owns 41,837 shares of the company’s stock worth $1,705,000 after purchasing an additional 4,608 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

NYSE NGVT opened at $31.24 on Tuesday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity Co. has a 1-year low of $28.49 and a 1-year high of $56.30. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.64 and a beta of 1.54. The business’s fifty day moving average price is $40.67 and its 200-day moving average price is $41.87.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NGVT. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price target 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, StockNews.com downgraded Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.