Ingevity Corporation $NGVT Stock: Pictet Asset Management Holding SA Reduces Stake

Pictet Asset Management Holding SA cut its stake in shares of Ingevity Corporation (NYSE:NGVT) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256,249 shares of the company’s stock after selling 20,633 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.75% of Ingevity worth $18,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Frazier Financial Advisors LLC purchased a new stake in shares of Ingevity in the second quarter valued at approximately $37,000. Global Retirement Partners LLC purchased a new position in Ingevity during the 2nd quarter worth $45,000. Harbor Investment Advisory LLC purchased a new position in Ingevity during the 2nd quarter worth $71,000. Public Employees Retirement System of Ohio bought a new stake in Ingevity during the 2nd quarter valued at $75,000. Finally, Assetmark Inc. raised its position in Ingevity by 9.6% during the 1st quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock valued at $113,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Trading Up 4.1%

NYSE NGVT opened at $63.29 on Thursday. Ingevity Corporation has a one year low of $46.38 and a one year high of $79.29. The company has a debt-to-equity ratio of 15.70, a quick ratio of 1.05 and a current ratio of 1.48. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.92 and a beta of 1.12. The company’s 50-day simple moving average is $69.98 and its two-hundred day simple moving average is $71.15.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.07. Ingevity had a net margin of 5.28% and a return on equity of 405.38%. The firm had revenue of $305.10 million during the quarter, compared to analysts’ expectations of $303.91 million. Equities analysts forecast that Ingevity Corporation will post 5.40 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Ingevity from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.00.

Insider Transactions at Ingevity

In related news, CEO David Li sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the transaction, the chief executive officer owned 120,636 shares of the company’s stock, valued at $9,147,827.88. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,092 shares of company stock worth $764,673 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Ingevity Profile

Ingevity is a specialty chemicals and materials company headquartered in North Charleston, South Carolina. It develops and manufactures high-performance activated carbon and specialty chemical products for industrial and consumer applications. Its activated carbon products are used in vehicle fuel-vapor emission control and other applications. The company also makes specialty chemicals and polymer materials used in areas such as pavement technologies, coatings, adhesives and elastomers. Ingevity serves customers in markets around the world.