CANADA LIFE ASSURANCE Co Sells 1,803 Shares of Ingevity Co. (NYSE:NGVT)

CANADA LIFE ASSURANCE Co trimmed its stake in Ingevity Co. (NYSE:NGVT) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,718 shares of the company’s stock after selling 1,803 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Ingevity were worth $1,372,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NGVT. American Century Companies Inc. lifted its stake in shares of Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock valued at $59,388,000 after purchasing an additional 398,800 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Ingevity by 22.4% in the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock valued at $46,561,000 after purchasing an additional 208,921 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Ingevity in the 4th quarter valued at approximately $4,882,000. Wellington Management Group LLP raised its holdings in shares of Ingevity by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after buying an additional 115,581 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Ingevity by 8.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock worth $52,457,000 after buying an additional 101,866 shares during the period. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upgraded 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 report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com downgraded Ingevity from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.20.

Ingevity Price Performance

NGVT opened at $32.48 on Tuesday. The firm has a market capitalization of $1.18 billion, a PE ratio of -2.74 and a beta of 1.54. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The business’s 50-day moving average is $39.64 and its two-hundred day moving average is $41.81. Ingevity Co. has a 1 year low of $28.49 and a 1 year high of $56.30.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 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 the consensus estimate of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. Research analysts anticipate that Ingevity Co. will post 4.45 earnings per share 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.