Ingevity Co. (NYSE:NGVT) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its position in shares of Ingevity Co. (NYSE:NGVT) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 17,013 shares of the company’s stock after selling 490 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Ingevity were worth $664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGVT. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ingevity by 3.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after acquiring an additional 279 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Ingevity by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock valued at $743,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Ingevity by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock worth $1,402,000 after purchasing an additional 388 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after buying an additional 452 shares during the period. Finally, Catalytic Wealth RIA LLC grew its stake in shares of Ingevity by 10.4% in the first quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company’s stock valued at $240,000 after buying an additional 474 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets reduced their price target on Ingevity from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, September 30th. Oppenheimer decreased their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Ingevity Stock Up 4.5 %

Shares of NYSE:NGVT opened at $33.65 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of -2.83 and a beta of 1.62. The company has a fifty day simple moving average of $36.67 and a 200 day simple moving average of $42.61. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. Ingevity Co. has a 12-month low of $30.90 and a 12-month high of $56.29.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. On average, equities research analysts anticipate that Ingevity Co. will post 2.2 EPS for the current fiscal year.

About Ingevity

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.