Sequoia Financial Advisors LLC Trims Holdings in Ingevity Corporation $NGVT

Sequoia Financial Advisors LLC reduced its stake in shares of Ingevity Corporation (NYSE:NGVT) by 36.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,021 shares of the company’s stock after selling 5,175 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Ingevity were worth $389,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NGVT. GAMMA Investing LLC boosted its position in Ingevity by 119.1% in the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock valued at $45,000 after buying an additional 618 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Ingevity by 21.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock valued at $66,000 after purchasing an additional 297 shares during the period. Empowered Funds LLC boosted its holdings in shares of Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock valued at $205,000 after purchasing an additional 594 shares during the period. Optimist Retirement Group LLC purchased a new position in Ingevity during the 1st quarter worth $246,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Ingevity by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company’s stock valued at $317,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 0.5%

NYSE NGVT opened at $55.87 on Wednesday. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $60.77. The company has a 50 day moving average price of $56.22 and a 200 day moving average price of $46.38. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24. The firm has a market cap of $2.04 billion, a PE ratio of -9.39 and a beta of 1.40.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business had revenue of $336.00 million for the quarter. As a group, sell-side analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their price target on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Wells Fargo & Company boosted their price target on shares of Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and an average price target of $58.00.

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.