Convergence Investment Partners LLC Sells 5,288 Shares of Ingevity Corp (NGVT)

Convergence Investment Partners LLC lowered its position in Ingevity Corp (NYSE:NGVT) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,107 shares of the company’s stock after selling 5,288 shares during the quarter. Convergence Investment Partners LLC’s holdings in Ingevity were worth $3,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Ingevity by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,837,181 shares of the company’s stock worth $220,255,000 after acquiring an additional 64,918 shares in the last quarter. Channing Capital Management LLC boosted its stake in shares of Ingevity by 3.5% during the 3rd quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock worth $58,283,000 after acquiring an additional 31,153 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. boosted its stake in shares of Ingevity by 34.3% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock worth $50,932,000 after acquiring an additional 226,830 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ingevity by 4.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 680,895 shares of the company’s stock worth $42,536,000 after acquiring an additional 28,345 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Ingevity by 10.6% during the 2nd quarter. Northern Trust Corp now owns 573,260 shares of the company’s stock worth $32,906,000 after acquiring an additional 54,859 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Several analysts have recently issued reports on the company. Rowe reiterated an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. BidaskClub upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Loop Capital restated a “buy” rating and set a $80.00 target price (up previously from $76.00) on shares of Ingevity in a research note on Tuesday, November 14th. Zacks Investment Research downgraded Ingevity from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, KeyCorp restated a “buy” rating and set a $75.00 target price (up previously from $70.00) on shares of Ingevity in a research note on Thursday, October 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.17.

Shares of Ingevity Corp (NYSE:NGVT) traded down $0.94 during trading hours on Tuesday, reaching $74.55. The company had a trading volume of 170,000 shares, compared to its average volume of 233,189. Ingevity Corp has a 1 year low of $51.01 and a 1 year high of $80.18. The company has a market cap of $3,139.71, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.14 and a beta of 1.93. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.11. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The firm had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts predict that Ingevity Corp will post 2.49 EPS for the current fiscal year.

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About Ingevity

Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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