Ardevora Asset Management LLP Has $55.07 Million Position in Ingevity Co. (NYSE:NGVT)

Ardevora Asset Management LLP reduced its position in shares of Ingevity Co. (NYSE:NGVT) by 0.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 771,632 shares of the company’s stock after selling 500 shares during the quarter. Ardevora Asset Management LLP’s holdings in Ingevity were worth $55,071,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Ingevity by 49.3% during the second quarter. Sei Investments Co. now owns 13,075 shares of the company’s stock worth $1,076,000 after buying an additional 4,317 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ingevity by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 528,657 shares of the company’s stock worth $43,012,000 after buying an additional 23,148 shares during the period. Castleark Management LLC acquired a new position in shares of Ingevity during the second quarter worth about $6,938,000. Advisory Services Network LLC acquired a new position in Ingevity during the second quarter valued at approximately $30,000. Finally, Ararat Capital Management LP boosted its position in Ingevity by 23.6% during the second quarter. Ararat Capital Management LP now owns 180,619 shares of the company’s stock valued at $14,695,000 after purchasing an additional 34,484 shares during the last quarter. 91.87% of the stock is owned by institutional investors.

NYSE:NGVT opened at $74.30 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.91 and a debt-to-equity ratio of 1.95. The stock’s 50 day moving average price is $76.93 and its two-hundred day moving average price is $79.82. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 21.73 and a beta of 2.18. Ingevity Co. has a 12-month low of $63.43 and a 12-month high of $89.55.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, October 27th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.08. The firm had revenue of $376.80 million for the quarter, compared to analyst estimates of $354.29 million. Ingevity had a return on equity of 35.46% and a net margin of 10.11%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.79 earnings per share. Equities research analysts expect that Ingevity Co. will post 5.14 EPS for the current year.

Several research analysts recently commented on the company. Loop Capital reduced their price target on Ingevity from $92.00 to $81.00 and set a “hold” rating for the company in a research report on Thursday, November 18th. TheStreet cut Ingevity from a “b” rating to a “c” rating in a research report on Wednesday, October 27th. Finally, Wells Fargo & Company increased their price target on Ingevity from $82.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, October 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ingevity has a consensus rating of “Hold” and a consensus target price of $91.60.

Ingevity Company Profile

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.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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